The Toronto United Church Council (TUCC) offers communities of faith and incorporated ministries across Southern Ontario access to capital through flexible loans and mortgages designed to support a wide range of facility-related needs. From roof repairs and furnace replacements to new construction, accessibility upgrades, and the development of child-care centres or community kitchens, our Capital Loan Program helps congregations invest in their physical spaces to sustain and grow their ministries.
This program is supported by our unique church-to-church capital pool – the Investing in Ministry Fund (IIMF). While we cover our out-of-pocket expenses, TUCC does not profit from borrowing or lending. IIMF participants receive a stable return on their investment, knowing their funds are actively supporting the work of other ministries.
Lansing United Church (LUC) would highly recommend TUCC to help with your financing requirements when undertaking a church redevelopment project. TUCC helped LUC every step of the way with financing our major redevelopment project starting with bridge financing for letters of credit with the City of Toronto, to providing LUC with an energy loan for the renovation portion of the church construction and finishing with mortgage financing once the project was complete. They really understood our needs during our development and construction phases.
– Bruce Hemming, LUC Treasurer
Typical Loan Terms:
- Loans are amortized based on size (up to 25 years) and offered in renewable 3-year terms.
- Interest is currently set at 4% or Scotiabank’s 3-year closed-term fixed mortgage rate, whichever is higher, up to a maximum of 6%.
- Loans under $50,000 are secured by a promissory note; larger loans require a first mortgage registered on the property title.
- All loans are open, with no penalty for early repayment.
Applications are reviewed by TUCC’s Committee of Finance and Property, and will also be required to demonstrate formal approval from their Regional Council.
We also encourage congregations to explore other funding sources, such as the United Church of Canada’s Capital Assistance Program, and – for those within Shining Waters Regional Council – the Toronto South-East Presbytery – Major Capital Fund
For full program details, please review our Loan Policy or Loan Brochure, or contact Daniel Reed for more information. Please feel free to begin your application below: