Grant Program

Grant Program Eligibility
Under current WELS CEF policy, eligible mission congregations have the opportunity to access loans and matching grants through WELS CEF.  All matching grants are provided through the WELS CEF Grant Program.  Gifts, donations and bequests made directly to WELS CEF are the primary sources of income for the Grant Program. Click here to make an online donation (select Church Extension Fund from the drop down menu). Currently the following types of matching grants are supported by the Grant Program:

4-to-1 Matching Grant for Initial Land Purchase

WELS CEF will provide a 4-to-1 matching grant based on a mission congregation’s 10% down payment for its initial land purchase.  The matching grant is capped on the first 5 acres purchased.  Any land purchase over 5 acres will result in a prorated grant.

Example 1:  Mission congregation purchases 5 acres of land for $500,000.  Mission congregation provides $50,000 (10%) down payment.  WELS CEF provides 4-to-1 matching grant of $200,000 (4 x $50,000).  WELS CEF provides loan of $250,000 for balance of purchase.

Example 2:  Mission congregation purchases 6 acres of land for $600,000.  $100,000 cost per acre ($600,000 purchase price/ 6 acres).  Mission congregation provides $60,000 (10%) down payment on total cost.  WELS CEF provides $200,000 prorated matching grant.  $100,000 cost per acre x 5 acres cap for matching grant x 10% x 4 = $200,000 grant.  WELS CEF provides $340,000 loan for balance.

Who is eligible:  Mission congregations that are looking to acquire their initial land site and carry a designation within the Mission Development, Mission Partner, or Campus Ministry categories of WELS Home Missions.  See “Project Categories for Capital Funding Requests/ CEF Grant and Loan Programs” document or contact WELS Home Missions for more eligibility details.

2-to-1 Matching Grant for Facility Construction

WELS CEF will provide a 2-to-1 matching grant on a mission congregation’s 10% down payment for an eligible new facility construction project.  The matching grant is based on 10% down payment of the total project cost and is capped on the first 5,000 square feet of construction.  Any facility project over 5,000 square feet will result in a prorated grant.

Example 1:  Mission congregation has new facility project cost of $750,000 for 5,000 square feet.  Mission congregation provides $75,000 (10%) down payment on total project cost.  WELS CEF provides 2-to-1 matching grant of $150,000 (2 x $75,000).  WELS CEF provides $525,000 loan for balance of construction cost.

Example 2:  Mission congregation has new facility project cost of $1,125,000 for 7,500 square feet.  Mission congregation provides $112,500 (10%) down payment on total project cost.  WELS CEF provides prorated matching grant of $150,000.  $1,125,000 project cost/ 7,500 sq ft = $150 cost per square foot.  $150 cost per sq ft x 5,000 sq ft cap for matching grant x 10% x 2 = $150,000 prorated grant.  WELS CEF provides $862,500 loan for balance of construction cost.

Who is eligible:  Mission congregations that are looking to buy or build a facility and carry a designation within the Mission Development, Mission Partner, Campus Ministry, or Congregation with a WEF unit categories of WELS Home Missions.  See “Project Categories for Capital Funding Requests/ CEF Grant and Loan Programs” document or contact WELS Home Missions for more eligibility details.

LOAN APPLICATION

Our Loan Department provides assistance to qualified mission congregations seeking a church mortgage through WELS CEF. If you have questions about a church mortgage loan, please view Church Loans FAQ.

Loan application resources

ELIGIBILITY SUMMARY

The District Mission Board – under the guidance of the Board for Home Missions must actively participate in the development and implementation of the outreach ministry plans in order for a mission congregation to be eligible for grants or loans involved in each of the project categories.

INVESTMENT INFORMATION

WELS Church Extension Fund, Inc. offers two types of Certificates–Loan Certificates and Savings Certificates. The Certificates pay interest at rates which are set according to the policies set forth under “Description of Certificates” on pages 23-28 of our Offering Circular. Our rates are reviewed and set monthly.

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*Not FDIC or SIPC insured   *Not a bank deposit  *No Synod Guarantee

The purchase of WELS CEF’s securities is subject to risks, which are described in our Offering Circular. This is not an offer to sell you our securities and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. These securities are neither offered nor available for sale in Pennsylvania, West Virginia or District of Columbia. The offering is made solely by the Offering Circular.