Foundation's Revolving Loan Fund Aids Four Parish Projects
Diocesan Press Service. November 6, 1974 [74308]
NEW YORK, N. Y. -- Loans totaling $60,000 for parish building projects in four dioceses were authorized by the directors of The Episcopal Church Foundation at a meeting in October. The interest-free loans are repayable to the Foundation's Revolving Loan Fund in ten annual, equal installments, with a small administrative charge on the unpaid balance.
A $22,500 loan was made to the Diocese of Atlanta for the use of St. David's parish in Roswell, which is remodeling its sanctuary to accommodate a larger congregation and enlarging its parish hall.
The Diocese of Fond du Lac received $12,500 to help St. John's in Wisconsin Rapids purchase an urgently needed new rectory.
In Boise, Idaho, the congregation of St. Stephen's has been growing rapidly and has almost tripled in the past eleven years. A $15, 000 loan to the Diocese of Idaho will enable the parish to add a common room and a library to its present facilities.
The Diocese of West Virginia was granted a $10,000 loan so that the Church of the Good Shepherd in Charleston may refurbish and enlarge its rectory.
Since The Episcopal Church Foundation established its Revolving Loan Fund in 1952, the Fund has lent $4,766,118 for building projects in 238 parishes and missions throughout the Church.