The Church Major Works Fund exists to help parishes undertaking major church building projects. The fund is designed to help parishes by providing loans to assist with cashflow over the project lifetime. It should be used to support existing fundraising activity and parishes are encouraged to contact the Historic Churches Support Officer who may be able to help you access additional or alternative funding streams.
Terms of the loan
The maximum loan normally available is 20% of the cost of works, up to a maximum of £50,000. However these terms can be varied according to individual circumstances. If repaid within 5 years the loan will be interest free, over that term the interest rate applied is 5%.
Eligibility Criteria
The church building must be insured to at least 75% of the latest valuation, and repayment must be made by monthly direct debit. Whilst in ordinary circumstances, parishes must be able to demonstrate they have paid their parish share in full for the preceding three years, the impact of the pandemic on parish finances will be taken into consideration. A post pandemic financial recovery plan should be provided alongside the loan application.
How to apply
Applications forms can be downloaded here and will be considered at the quarterly Finance and Administration Committee meetings All applications should be submitted electronically or by post with supporting documentation to: sue.ratcliffe@peterborough-diocese.org.uk; Sue Ratcliffe, Assistant Diocesean Secretary The Diocesan Office, The Palace, Peterborough PE1 1YB.