The purpose of the Diocesan Foundation Inc. is lending money to parishes, missions and other institutions within the Diocese of Atlanta. It also is available as a loan source for clergy seeking to purchase a home.
The low-interest rate loans provide funds for new construction or renovations of the worship, educational or social areas of the parish. Funds also may be made available for the purchase of 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 (2% for 1-5 years, 2.5% for 10 years, 3.0% for 15 years). The foundation also lends money to the clergy of our diocese for assistance with the down payment on the purchase of a home. Members of the clergy may finance up to $25,000 for a maximum of 10 years at 2%.
The Diocesan Foundation's Board of Trustees meets annually and elects members for staggered terms of five years. All loans are considered on the basis of availability of funds at the time of application. All new loans are subject to the interest rate currently in effect. Rates are subject to change and are determined by the foundation's board.
PLEASE NOTE: Any parish planning any new construction, renovations or purchase or sale of property should brief the Diocesan Bishop before proceeding. This may be done by contacting Canon Bonnie Burgess. The Diocese of Atlanta Building and Financing Manual provides information about the entire process necessary for a parish planning such a project.
For information on parish or clergy housing loans, please contact Canon Burgess, email@example.com, 404-601-5350.