The Board of Missions, Incorporated, has three main programs to benefit local churches seeking help with their facilities: loans, grants, and consultation. Each of them offers churches ways to expand their ministries and become vital centers for mission in their communities.
The past year has presented the Board of Missions with both challenges and opportunities. The Board has always loaned money with interest, which, when paid back, supports the work of the Board (it does not receive apportionment dollars) and increases the amount of money available to lend.
Last year the Board decided to reduce the interest rate to 3%. This made a loan from the Board very attractive, but the rate of applications for loans continues to trend downward. Fewer churches are building or even renovating facilities and are not seeking loans.
What emerged, however, was a new way to help local churches who had commercial loans at higher rates. The Board received and approved several requests to help these churches by re-financing their loans, thus freeing up significant amounts of money that could be saved or repurposed for staff or program.
The season of disaffiliation, while disheartening and painful, also produced an unexpected infusion of money for the Board’s grant program. The Board made a large grant to New Faith Communities to help start new churches. In addition, a long-time missional church had their loan forgiven, freeing up money for expansion and sustainability. Smaller grants continue to help churches with capital improvements and repairs.
The Board embraces its mission as a sacred trust. It now oversees nearly $5.5 million dollars in loans and grants, and is grateful to partner with local churches to become effective and faithful centers of outreach and community.
Larry Bowden
Chairperson