Irish Ecumenical Church Loan Fund

The Irish Ecumenical Church Loan Fund (ECLOF) gives low-interest loans to a variety of church and community projects and organisations, North and South of the border. It is part of a charitable foundation incorporated in 1948 under Swiss law in Geneva. Originally founded to assist churches and church organisations rebuild after the Second World War, on a world scale it is now most involved in micro-credit in Latin America, Africa and Asia. It has operated in Ireland since 1978.

There are currently no fixed closing dates and the committee operates on a rolling basis. Loans are for a maximum of approximately UK£31,000 (€45,000 at 2007 exchange rates). Loans over UK£25,000 (€36,000 at 2007 exchange rates) are required to go to Geneva for ratification. Loans are usually repaid over a 3 – 5 year period with standardised (fixed) six-monthly repayments. The interest rate charged varies but is less than commercial rates (ECLOF rate 4% in 2007). Security is required for loans but guidance is given as to what might be acceptable. Loans are only made to groups and organisations, not to individuals, and are almost always for capital projects, often to top up fundraising so that a building or other capital project can go ahead.

ECLOF supports cross-community work, inter-church understanding, work in areas of deprivation or special need, work with marginalised and vulnerable groups, and special means of proclaiming the Christian Gospel or Christian standards of ethics. It does not support the normal work of local churches but could support a local church which is significantly involved in any of the above activities.

Further details from: Irish Ecumenical Church Loan Fund, Inter-Church Centre, 48 Elmwood Avenue, Belfast BT9 6AZ, phone 028 (048 from Republic) - 9066 3145, e-mail info@irishchurches.org

An application form will be supplied if an initial enquiry indicates that a project could potentially fit the criteria.