The USA Church of the Nazarene Loan Fund (UCLF) was established June 5, 1955 with a church wide offering of $62,343.69. From this simple beginning, a separate revolving fund was started for the purpose of providing mortgage loans to new and small Nazarene churches; especially those unable to obtain financing from a local bank or other lending institution. Over the last fifty years, UCLF has enabled hundreds of new and small Nazarene churches to purchase, build, remodel church structures or consolidate building debt. This past year, UCLF provided $5.1 million in new loans to 25 Nazarene churches.

Before the Loan Fund was created, the denomination was challenged with high risk loans, loan defaults, and the loss of mortgage capital. A key reason for creating the separate Loan Fund was to generate adequate funds to keep abreast of loan demand. However, over most of those years the Loan Fund did not generate enough money on its own, therefore, it borrowed money by issuing notes to investors. As of 2003 we are pleased to report that UCLF has grown to a self funded level which no longer requires investor notes to provide funds for loan requests.

The Loan Fund today is exceedingly grateful to Dr. Roy F. Smee whose vision and leadership began this loan fund over 50 years ago. We are also appreciative to past leaders and administrators Doctors Orville Jenkins, Raymond Hurn, Thane Minor, Moody Gunter, Robert Foster, and Mr. Harold Allen who have managed this fund so well over the last 50 years. Our prayer for the next 50 years is that the Lord can use this fund to continue building His Kingdom through the Church of the Nazarene.