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Microloans"With over 500 Episcopal churches closing in the past decade, we need to become masters of creativity and imagination in using our sacred space" said Julia Groom-Thompson, President of the Building Fund. The ECBF is offering a special micro loan for parishes that are making strategic changes to their facilities so they can leverage opportunities for revenue generation, with a goal of financial self-sustainability. Examples include relining a church parking lot to make it available for lease, refurbishing of a parish hall for rental, removing church pews to enable mixed use of the worship space, or bringing a kitchen up to code for commercial purposes. The Building Fund has initially set aside $100,000 for this purpose, to be loaned at a special reduced rate of 3%, less than half the usual interest rate. The origination fee will also be waived. As with all ECBF loans, these are non-mortgage funds, at a fixed rate of interest, with a term up to 15 years, and no pre-payment penalty fee. Applications with an emphasis on developing creative ways to further a congregation's mission, better integrate into their community, and develop financial sustainability will be given priority. For more information contact the ECBF or submit an application. The application can be mailed to:
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