Grants and Loans

Grant & Loan Information:

The Central Bay District has income sources from district ministry shares, interest paid on existing loans and interest from the investment fund. We wisely use this money to carry out the mission and ministry within the lines of the Central Bay District and beyond. Our purpose is to make disciples of Jesus Christ for the transformation of the world. All our spending and financial decisions are based on that focus.
The district is a resource to the local church to live out their mission of making disciples. Sometimes, a need for financial assistance is needed to make things happen.

We offer both grants to jump start a new ministry or loans to help in building or repairs. Our Leadership Team normally meets quarterly and looks over all submitted applications. After discussion, a prayer and >vote are taken. Applicants are notified the following week of the decision.

Guidelines for Central Bay District Loans

2024 Interest Rate: 3.5%
2025 Interest Rate: 6.5%

First 24 months are interest/payment free

Loans are generally large capital improvements and/or brick and mortar expenses

  1. This Loan Policy became effective October 13, 2007.
  2. A minimum loan is $5,000, and the maximum loan is $50,000.
  3. Loans up to $9,999 will be amortized over a maximum of 10 years with payments beginning 24 months after issuance of the loan. Loans $10,000 and greater will be amortized over a maximum of 15 years beginning 24 months after issuance of the loan.
  4. The interest rate for loans issued in the upcoming year will be set at the October Leadership Team meeting at the mortgage prime rate on September 1 minus 2%. Interest rates are fixed for the life of the loan.
  5. Reserves are to be held between $400,000 and $600,000 with an aim point of $500,000 (note: with the current slow repayment of outstanding loans, it is recognized this goal will take some time to reach).
  6. Total loans outstanding will not exceed the Reserves at any given time.
  7. The Loan Committee will be the Leadership Team of the Central Bay District.
  8. Loan applications will be considered at regularly scheduled meetings of the Central Bay District Leadership Team.
  9. It is realized that extenuating circumstances may in rare cases require adjusting some of these policies.

Click here for Loan Application

Download application
Fill out application – remember to sign and date

Return application with all other supporting documentations to John Kasper [email protected] or Central Bay District
PO Box 5386, Saginaw, MI 48603
Call 989.793.8838 for questions

Guidelines for Central Bay District Grants

  1. Minimum grant amount allowed $1,000.
  2. Maximum grant amount allowed $5,000.
  3. Focus is on NEW ministry projects.
  4. Existing ministry projects may also apply but explain what new aspect will be implemented.
  5. It is possible the committee will ask you to be present during discussion for clarification of info.

Click Here for Grant Application

Download application
Fill out application – remember to sign and date

Return application with all other supporting documentations to John Kasper [email protected] or
Central Bay District
PO Box 5386,
Saginaw, MI 48603

Call 989.793.8838 for questions

 
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Central Bay District