Diocesan Foundation, Inc.
The low-interest rate loans provide funds for new construction or renovations of the worship, educational or social areas of the parish, new equipment or building maintenance emergencies. Parishes may finance a maximum of $200,000 for up to 15 years. Rates vary depending on the term of the loan. Clergy may finance up to $25,000 for a maximum of 10 years. All loans are considered on the basis of availability of funds at the time of application. Interest rates are determined by the foundation’s board annually.
Any parish planning new construction, renovations or purchase or sale of property should notify the Canon to the Ordinary or the Canon for Administration & Finance early in the process.