Community Loans

Churches Mutual could help finance a project at your local church

A community project close to your church’s heart? A community loan can help you reach your target
or provide match funding or generally give your plans the final push they need to become reality.

Is this loan for us?

Yes if you are a church or charitable organisation within Churches Mutual's common bond

Yes if the loan is to support a project, repairs or refurbishment, for which you have permission and the loan will cover the costs in full or will be match funded through grants, giving or the church's reserves.

Yes if you can demonstrate that your church or organisation will have the income or potential income to cover the repayments for the term of the loan.

Before you apply

Like all Churches Mutual Loans the Community Loan is assessed on an eligibility and affordability basis.

To be eligible to apply you will need to be a church, church project or eligible charity within our common bond but we would also expect to see that you have the relevant permissions for your project such as a faculty (in the case of Anglican churches), or any similar approval as required by your denominational governing body, and also planning permission from the local authority if necessary.

We would also expect you to be in good standing with your denominational overseers, and again if appropriate up to date with any dues as required.

To assess affordability we would need to see the last two years signed accounts and also a budget plan for the first three years of the loan. If the loan is to fund a project that is designed to produce or increase income for the church then we would need to see the business plan.

The loan application would need to have support of the church council and/or elders.

The maximum loan is £30,000 and if this is only a percentage of the funds required for the project then we would ask for evidence that the additional funds are in place or promised.

We appreciate that applying for a loan on behalf of your church or organisation is a big step so please do contact us to talk it through at any stage in the process.

Apply