The Toronto Southeast Presbytery – Major Capital Fund supports communities of faith and incorporated ministries within Shining Waters Regional Council by providing access to capital for essential facility upgrades and new ministry development, in circumstances where normal loan programs are not sustainable.
Whether it’s a failing roof, a broken furnace in winter, or critical accessibility repairs, this fund helps congregations address immediate building concerns that could jeopardize their ability to gather, serve, or continue their mission.
This stream of funding is made possible through the faithful stewardship of proceeds from property sales in the former Toronto Southeast Presbytery.
In November 2020, Ghana Calvary United Church in North York suffered a major flood caused by a burst radiator pipe in the sanctuary area. The congregation was struggling with the impact of COVID-19 on church finances and were wrestling with other deferred maintenance issues. With the congregation not in a position to undertake the required work, a loan from the TSEP-MCF fund enabled the necessary capital maintenance – including a roof leak, shifted doors, sinking windows, and floor replacements – to take place and to safe-guard the site of the congregation’s ministry into the future.
Typical Loan Terms:
- Loans are offered under similar terms to TUCC’s core Capital Loan Program, but interest rates and amortization periods are set at the discretion of TUCC’s Committee of Finance and Property, with the objective of honouring the fund’s deep commitment to supporting mission.
- Loans are structured in renewable 3-year terms, and remain open, with no penalty for early repayment.
- Loans under $50,000 are secured by a promissory note; larger loans require a mortgage registered on the title.
All applications are reviewed by TUCC’s Committee of Finance and Property and by the Shining Waters Regional Council as donor-advisors, and applicants must also receive approval from their Regional Council.
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 (note that this fund shares an application form with the core Capital Loan program):