Grow Your Ministry
Become a Borrower of an Institutional Loan
The Columbia Union Revolving Fund (CURF) supplies loans that help Adventist institutions in the Columbia Union do ministry. Ready to grow your ministry? CURF is here to help.
Institutional Loan Information
Do you have dreams of growing your ministry, but are being held back by a lack of funds? Does your camp dream of a fully renovated campground? Does your academy have a vision of a brand-new gym, or state of the art computer center for your students? Does your church look with anticipation at plans for a new building that will help you better serve your mission field? CURF is here to help with Institutional Loans available to eligible conferences, academies, church schools, colleges and universities affiliated with 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 Institutional Loans for up to 50 percent of your project costs at comparable interest rates for repayment. For institutional loans borrowed in the name of the conference, CURF is able to supply 100 percent of the loan up front. If you need help financing the growth of your ministry, CURF is here to help.
Apply Now Loan Application
Institutional Loan Application Steps
In order to apply for an institutional loan, you must work with your conference to have them request an institutional loan on your behalf. Contact your conference representative to start the process.
Work with your conference treasurer to complete all fields of the loan application, including the required signatures.
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 conference who will review, sign, notarize and return the Promissory Note to CURF through fax, scanned email attachment, or mail.
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 application. Funds can either be sent by mailed check or wire transfer to a bank account as specified in the Loan 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.