Baptist Building CIO raises loan threshold
A loan fund which has been serving Baptists for nearly two centuries has increased the maximum amount churches can borrow
Baptist Building CIO (formerly Baptist Building Fund) provides interest-free loans to Baptist churches seeking to renovate, extend or purchase new churches and buildings for mission.
Previously the largest amount a church could borrow was £250,000 over 10 years. In light of the huge increase in building costs in the last few years, Baptist Building CIO now also offers loans of £250,001 to £500,000 over 10 or 20 years (with the discretion to make loans above £500,000 on a case by case basis).
The fund was originally established by a group of Baptist ministers in London in 1824 and continues to help Baptist churches across the UK in their task of advancing the Christian faith. Once the interest-free loan is repaid to the fund, the church is asked to make a thank-offering donation, to cover administration costs and to help BBCIO to help more churches with loans.
When Station Hill Baptist, Chippenham recently embarked on a major renovation of their church building, a loan from BBCIO was one tranche of funding that helped make the project happen.
The layout of the 1850s church buildings at Station Hill lacked space, constraining the church and community activities significantly, and needed modernising. After two years of planning, the work started in 2018 to remodel the layout of the church rooms, and add new access ways, heating, toilets and kitchen facilities. This made a difference to the church and community groups gathering on Sundays and mid-week, giving them space to grow their outreach and community service, and providing for more integrated family worship and teaching plus growing numbers.
Loans are available to Baptist churches affiliated to any UK Baptist Union, the Grace Baptist Trust Corporation, or independent Baptist churches. The Fund is independent of the Baptist Unions in the British Isles, but seeks to co-operate with them.
For more information, visit the website www.baptistbuilding.org or contact administrator, Emily Blake email@example.com 07506 663761