Congregations wishing to reduce their carbon footprint and conserve energy have a new option for funding related enhancements to their campuses: The Restoring Creation Loan from the Presbyterian Investment & Loan Program.
Last week the Presbyterian (U.S.A.) Investment & Loan Program’s Board of Directors enthusiastically approved the Restoring Creation Loan, which will provide an added incentive for churches to reduce their consumption of fossil fuels. Similar action was taken in June by the Presbyterian Mission Agency Executive Committee, who approved the use of endowment funds for this initiative.
Responding to the General Assembly’s affirmations to reduce fossil fuel concerns, the Presbyterian Church (U.S.A) Foundation and Presbyterian (U.S.A.) Investment & Loan Program (PILP) met over the past several months to explore projects that would encourage proactive steps in advancing green initiatives. The Restoring Creation Loan is a result of those collaborative conversations.
“For a number of years PILP has been offering loans to churches to improve their energy efficiency,” said Jim Rissler, president of the Investment and Loan Program. “We are pleased to broaden this incentive, by partnering with churches across the denomination to help collectively reduce our carbon footprint through this new Restoring Creation Loan program.” Loans are available to qualifying congregations and other PC(USA) entities engaged in projects that purposefully render our churches more energy efficient.
With lower interest rates and equity requirements, congregations will be encouraged to renovate their buildings using energy efficient products and renewable energy sources – saving on energy costs while helping to ensure that our church buildings reflect who we are as a community of faith. Projects could include: energy efficient lighting systems, solar panel additions, high efficiency heating and cooling systems, geothermal systems and many others.
The Presbyterian Investment & Loan Program has been partnering with PC(USA) organizations for over twenty years – providing low-cost loans to churches, governing bodies and related entities of the denomination. The program funds millions of dollars in church loans each year, drawing upon endowment funds of the General Assembly plus investor funds provided by Presbyterians across the country.
For more information on the new Restoring Creation Loan, or other investment and loan opportunities provided by the Presbyterian Investment & Loan Program Inc., visit www.pilp.pcusa.org, contact us at loan.help@pcusa.org, or call 1.800.903.7457 ext. 5865.