Capital Loan Application Form

Thank you for your interest in the Toronto United Church Council’s (TUCC) loan programs. This Expression of Interest form is the first step in exploring whether a TUCC loan is the right fit for your congregation or ministry. Completing this form helps us understand your project and financial needs so we can offer guidance and determine potential eligibility before bringing a recommendation to our committee for approval.

You’re welcome to complete the form online, or if you prefer to fill it out by hand or discuss it with your board or committee, a printable version is available for download here.

If you have any questions as you begin, please don’t hesitate to reach out for support.

Capital Loan Application

Community of Faith or Incorporated Ministry

Name:(Required)

Address:(Required)

Phone:(Required)

Applicant

Name:(Required)

Email:(Required)

Phone:(Required)

Role:(Required)

Capital Project Type

Capital Project Type:(Required)

Capital Repairs/Renovations

Health & Safety Retrofits

Accessibility Retrofit

Environmental Sustainability Retrofit

New Construction

Property Acquisition

Other

Financing

Amount Required:(Required)

Repayment Period:(Required)

3 years (maximum for under $10,000)

5 years (maximum for $10,001 to $25,000)

10 years (maximum for $25,001 to $50,000)

15 years (maximum for $50,001 to $100,000)

25 years (maximum for over $100,001)

Special financing requirements:

(If this is a bridge loan and/or a loan for which you are requesting special considerations, describe the arrangements you seek.)

Is the community of faith or incorporated ministry a part of the Shining Waters Regional Council and interested in accessing funds through the Toronto Southeast Presbytery – Major Capital Fund?(Required)

Yes

Capital Fundraising

Is the community of faith or incorporated ministry undertaking a capital fund raising campaign specifically to assist with the financing of this project?(Required)

Yes

If yes, would the community of faith or incorporated ministry be willing to sign an undertaking that net gifts and pledges received from the campaign would be directly applied to TUCC debt reduction?(Required)

Yes

If No, provide details of how funds may be otherwise directed:

Status of Property

For all loans, regardless of size and/or nature of the security, the following must be provided:

Name of insurance company:(Required)

Policy number:(Required)

Replacement cost guarantee:(Required)

For all loans that will require a mortgage as security (normally over $50,000), the following must be provided. (Please note that TUCC reserves the right to place a mortgage on the primary property for security purposes regardless of amount borrowed).

Legal description of property:(Required)

Assessment roll number of property:(Required)

Will a municipal site plan be registered on title as a result of the project?(Required)

Yes

If TUCC cannot place a first mortgage on the property, give reason:(Required)

Required Information

Upload your files here:

Drop files here or

Max. file size: 256 MB, Max. files: 10.

Please upload any supporting documents above. Note – for applications with documentation of more than 256 MB, please email to daniel@tucc.ca

The following information must accompany this application. Please check box to confirm that the requested information accompanies this application.(Required)

A brief narrative describing the nature of the project (what is being undertaken and why it is required).

The most recent Annual Report of the community of faith or incorporated ministry.

A copy of minutes from a Trustees/Council/Board meeting in which agreement to the pursuit of a loan application was granted.

The most current financial statement for the community of faith or incorporated ministry.

The budget for the capital project for which financing is being requested including all anticipated costs and income sources together with date(s) for the loan advance/advances you will require.

If the repayment plan depends on leasing the space: a signed copy of the lease

The full contact information for the following people (name, address, phone and email):

For communities of faith

The designated Contact Person for this application
The Minister
The Treasurer
The full membership of the Board of Trustees
The lawyer for the community of faith (if a mortgage is to be placed)

For incorporated ministries

The designated Contact Person for this application
The Executive Director or equivalent officer
The Finance Officer / Treasurer
The Signing Officers of the Board of Directors
The lawyer for the incorporated ministry (if a mortgage is to be placed)

Additional Information

Please upload your files here:

Drop files here or

Max. file size: 256 MB, Max. files: 10.

Please upload any supporting documents above. Note – for applications with documentation of more than 256 MB, please email to daniel@tucc.ca

Any additional information you feel would be helpful to TUCC in assessing this loan application. This may include but is not limited to:

A record of the previous year’s giving pattern for the community of faith setting out the number of contributors in dollar range increments (if not included in the Annual Report).

A narrative setting out the demographic changes in the community of faith.

A five-year projection for membership, program and finances

Terms and Conditions

By signing this application, the applicant acknowledges the following matters pertaining to the approval process and management of the loan:

If and when required, the applicant is responsible to seek permission from the Regional Council to carry out the capital project and/or to mortgage the trust property, to provide that court with the information it requires to make its decision, and to have the appropriate officer of the court communicate its decision in writing to TUCC (see The United Church Manual, 2016, Section 2.1.3). This application is deemed to be incomplete until TUCC receives in writing the resolution of the Regional Council.
The term for a loan or renewal shall normally not exceed three years; however, a term equal to the amortization period will be available for loans and renewals with an amortization period of five years or less. All renewals are technically new loans and, therefore, must receive Regional Council permission for the renewal.
Upon each renewal, a nonrefundable fee will be invoiced and paid prior to the renewal date. For renewals under $10,000, the fee is $150, and for renewals over $10,001 the fee is 0.25% of the outstanding balance with a minimum of $250 and a maximum of $5,000. The purpose of the fee is to offset the direct costs of TUCC pertaining to the administration and accounting of your loan at the time of renewal and during the term (including but not limited to staff time, audit fees, office costs, and Board expenses).
If and when the loan is approved or renewed, the legal expenses of TUCC's lawyers in acquiring, preparing, updating and registering a first mortgage on the property are the responsibility of the applicant.
All borrowers for loans over $50,000 must obtain independent legal advice regarding mortgage documentation and the related terms and conditions associated with the loan.
Draws on borrowed funds may not be permitted until TUCC's security (promissory note or mortgage) has been signed by the applicant’s Trustees and appropriately registered. For this reason, the applicant should attend to administrative requests from TUCC and TUCC's lawyers in a timely manner.
The application is terminated if the first draw is not forwarded within three months of the agreed date. Amounts drawn must be in increments of $25,000 or more according to a schedule laid out in the terms of the loan. Draws will be deemed as being complete six months from the end of the agreed-upon draw schedule unless a request for an extension is granted by TUCC.
Repayment is by way of pre-authorized bank withdrawals unless otherwise agreed to by TUCC. The forms for this service will be forwarded to the borrower and must be signed and returned no later than 2 weeks before the first regular payment is due.
All borrowers are required to have valid and current property insurance remain in place on the mortgaged property for the life of the loan. The borrower must supply TUCC with a new Certificate of Insurance on or before the date of each annual insurance renewal. TUCC must be added as an “additional insured” on the policy. A late fee may be applied by TUCC if the annual Certificate is not received by the date required.

Name(Required)

First Last

Date(Required)

Capital Loan Application Form