Due to the economic impact of COVID-19, the Reformed Church in America Church Growth Fund, Inc., (CGF) has announced it is offering a loan payment relief program to its church borrowers. The primary mission of the CGF is to make affordable rate loans to RCA congregations to purchase, construct, and make improvements to buildings used in ministry.
“Most churches have suspended in-person worship services, as well as other church programs and activities, which has resulted in decreased offerings,” says Pam Goslinga, CGF vice president. “Additionally, some churches are not receiving the rental income that they expected due to closings and cancellations.”
The CGF is offering its borrowers the option of reduced monthly payments for up to six months and even full deferral of monthly payments for a portion of that time period.
“This program is a way that we can help our church borrowers through these challenging times,” says Goslinga.
Churches interested in loan payment relief are encouraged to send an email to email@example.com no later than May 15, 2020.
The CGF provides loans to churches, classes, and other agencies that are buying, building, or renovating buildings for the life of the church. At this time, the CGF has $61.5 million in outstanding loans to 113 borrowers.
For more information about the work and ministry of the CGF, visit www.rca.org/cgf.