The Emergency Loan Fund was established in 2023. Its purpose is to provide parishes, missions, and Catholic schools within the Diocese of Cheyenne with short-term, low-cost loans for emergency needs when other funding is not available.
Provisions
WCMF will make a maximum of $100,000 available for this program throughout the diocese.
The purpose of the loan must be emergency building needs or unexpected repairs.
The minimum request is $10,000.
The maximum term is 5 years, and the rate will be determined after review of the application, but will be approximately 200-300 bps below market.
All other sources of available funding within the parish, mission, or school community should be pursued prior to application.
Process
Pursue all other sources of available funding within the parish, mission or school community.
Prepare a corporate resolution of the board of directors, indicating the approval of the pastor (or principal) and the Bishop.
complete and submit the Emergency Loan Fund application.
You may expect a response no later than 10 days after the submission of this request. The response will include a confirmed rate of interest and a term not to exceed five years. Approval will be based upon whether the funds are available, the likelihood of repayment, and how closely the request matches the intent of the WCMF Emergency Loan Fund.
Questions?
Questions may be addressed to Peg Louiselle [email protected] or 307-757-6806.