wfn.org | FOURTEEN NEW CHURCHES RECEIVE LOANS

[PCUSA_NEWS@ecunet.org]

6-Apr-95

95090          FOURTEEN NEW CHURCHES RECEIVE LOANS 
 
                      by Jerry L. Van Marter 
 
LOUISVILLE, Ky.--Fourteen Presbyterian new church developments received 
loans totaling $1.9 million when the Mission Development Resources 
Committee met here Feb. 23-25. 
 
     During the meeting, the committee adjusted the terms on 12 existing 
loans and granted extensions on 12 others. 
 
     The committee also adjusted the interest rate on its church loans. 
For loans granted in 1995, borrowers will pay 7 percent interest.  The rate 
for site-acquisition loans is 4 percent interest only for the first five 
years and 6 percent interest for the remaining 15 years of the loans. 
 
     As part of its ongoing evaluation of the loan and grant program for 
new church development and church redevelopment, the committee explored 
ways to implement new elements of its work, including: 
 
     * funding for the search phase for pastors of new church developments 
 
     * extended funding of mission development grants 
 
     * funding for revitalization of existing churches. 
 
     The committee will next meet April 20-23 in San Antonio, Texas. 
 
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For more information contact Presbyterian News Service
  Presbyterian Church (U.S.A.), Louisville, KY 40202
  phone 502-569-5504            fax 502-569-8073  
  E-mail PCUSA.NEWS@pcusa.org   Web page: http://www.pcusa.org 

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