Grow Your Ministry
Become a Borrower of an Entity Loan
The Columbia Union Revolving Fund (CURF) supplies loans that help Adventist entities in the Columbia Union do ministry. Ready to grow your ministry? CURF is here to help.
Entity Loan Information
Is your ministry ready for a new home? Do you have the building or property picked out for your new church, community service center, or daycare, now you just need the right financing so you can purchase or build?
Does your ministry need some renovations? Is it time to make repairs to the roof or add a new wing, but you need a loan to make it happen?
Are you looking to grow your ministry with some new equipment? Have you been pricing sound equipment or a new organ, but the funds aren’t available yet?
CURF is here to help with Entity Loans available to churches and other eligible non-education entities in the Columbia Union.
The Columbia Union Revolving Fund (CURF) lends money to eligible Adventist institutions in the Columbia Union for use in growing ministry. We are able to provide loans at comparable interest rates for repayment. Eligible entities can borrow an Entity Loan of up to 65% of the total project cost, or up to their average annual tithe income for the most recent three years, whichever number is lower. See the Loan Application for more details. If you need help financing the growth of your ministry, CURF is here to help.
Entity Loan Application Steps
Once your board has voted to apply for a loan, download the CURF Loan Application and completely fill out all sections of the application including the required signatures.
Send your completed application with the required signatures to your conference treasurer.
If your conference approves your request, your conference will send your Loan Application to CURF.
The designated CURF committee will approve or deny your loan request. If approved, CURF will email a Promissory Note to the applicant and a Guarantee document to the applicant’s conference.
Review, sign, and notarize the Promissory Note and send it to CURF through fax, scanned email attachment, or mail.
Scan and Email: CURF@ColumbiaUnion.net
Copy and mail:
Columbia Union Revolving Fund
5427 Twin Knolls Road
Columbia, MD 21045
Once CURF receives both the Promissory Note and the Guarantee signed and notarized, CURF will send money to the Borrower according to the Draw Schedule as outlined on the Loan Application. Funds can either be sent by mailed check or wire transfer to a bank account as specified in the application. Wire transfers require an additional $12 processing fee for each transfer.
Interest Rates & Loan Payments
CURF will send money to the Borrower according to the Draw Schedule as outlined on the application. Loan amounts less than or equal to $25,000 must be drawn in full. For loans in excess of $25,000, draws must be rounded to the nearest $1,000 with a minimum of $10,000 per draw. Once a loan is voted and approved by CURF, the first draw of funds must take place within 12 months of being voted on or the loan will be cancelled.
Funds can either be sent by mailed check or wire transfer to a bank account as specified in the application. Wire transfers require an additional $12 processing fee for each transfer.
Loan interest is charged monthly at a variable rate, currently 4.25% per year. The interest rate is variable and can be adjusted quarterly by the CURF Board. Interest rates are non-negotiable. Anytime the CURF Board changes the interest rates, your payment amount will not change, but the length of the loan will be extended.
Borrowers receive monthly statements at the beginning of each month identifying the amount due. Payments are due on the first of each month.
Once you have drawn and received the full amount of your loan, your first payment, principal and interest, will be due the first day of the following month. Your loan Promissory Note and Guarantee specify the amount of and schedule for repayment.
You can pay more than the monthly amount due shown on your statement in order to pay off your loan faster. CURF will apply extra payments to both the loan interest and principal, which will reduce the amount of interest accrued that you will need to pay on your loan overall. Making timely and early payments can also reduce the amount of interest you will need to pay over the course of your loan.
If an entity in your conference has any loans 60 days past due, you will be notified via email from a CURF team member. If payment is not received by the 10th of the month, CURF will request the payment be deducted from the conference’s Monthly Appropriation (special assistance account). The conference treasurer will be notified if this action is taken. The Columbia Union will communicate with the local conference regarding the appropriation deduction
If, after CURF has been paid from the conference’s Monthly Appropriation (special assistance account), a payment is received from the local entity or the conference to catch up on their past due payments, CURF will refund the conference’s Monthly Appropriation (special assistance account) if their account is no longer past due.
Entities interested in getting a CURF loan and becoming borrowers must apply through their local conference. See our Full Approval Process to learn more about next steps, or complete the below form to notify your local conference office to get the process started.
Get The Full Details
The Approval Process
You must work with your Conference to obtain a CURF loan. Learn about the loan approval process.
Interest Rates & Loan Payments
Once you start drawing or receive the full amount of your loan, you will start accruing interest. Learn about interest and loan repayment.
Things to Know Prior to Approval
Get a head start on your loan approval process by learning the top things to know prior to approving a loan application.