Low Interest Rates for Churches Borrowing Money

With interest rates and building use both at historic lows, 2021 could be a great time for your congregation to tackle deferred maintenance or make a capital improvement that gives your ministry room to grow.

“We’ve been making these loans for 28 years, and today’s interest rates are the lowest we’ve ever been able to offer,” says the Foundation’s executive director Tom Wilson. “We’ve always set our interest rates by adding half a percent to the Morgan Stanley prime rate, and as of today, that puts us at just 3.75%.”

The Foundation has offered loans for church capital improvement projects since 1992. “I started the loan program because at that point, banks were asking pastors to co-sign loans for their congregations, and in an itinerant system that just didn’t make sense,” explains Wilson…