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We've been busy!
Since we were founded in July 2000, we have provided over $29 million in direct loans to Catholic institutions and collateralized four loans. In addition, we have provided financial advisory services to more than one-fourth of the parishes in the Archdiocese. Here are a few examples of the help we've provided.

Church of St. Peter, Mendota
CFC Services: Assisted the parish with project affordability analysis and developed a 10-year operations pro forma model in connection with the parish's construction of a new church, gathering space and social hall. In addition, CFC provided a direct loan to the parish to refinance school debt, structuring it as a subordinated loan so that the parish would still be able to proceed with a separate bank loan for the new church construction.

Outcome: The parish had the tools necessary to make informed decisions about their building project, including whether to do the construction in phases. The parish also was able to provide for their obligation to the school in a way that still enabled them to close on a separate bank financing for the church project.

Church of St. Henry, Monticello
CFC Services: Provided a direct loan to help them pay additional construction costs and negotiated the restructuring of a distressed loan for new church construction.

Outcome: The direct loan was paid back in full ahead of schedule and the church obtained a reduced interest rate on their distressed loan and restructured their principal repayment.

Church of St. Stephen, Anoka
CFC Services: Provided a direct loan to help the parish refinance their existing debt at a reduced cost.

Outcome: With the savings available from reduced monthly debt payments, along with a newly launched capital campaign, the parish has been able to make substantial prepayments on its outstanding debt, reducing the balance by almost half within the first year.

St. Leonard of Port-Maurice, Minneapolis
CFC Services: Assisted the church with the preparation of a Request for Proposals to hire an architect to design an improvement project (ADA accessibility and a new gathering space). CFC also helped them prepare their financial projections and other materials for presentation to the Archdiocesan Building Commission (ABC).

Outcome: The parish revised their approach for hiring an architect and was also well-prepared for and well-received by the ABC at their presentation.

Church of St. Jerome, Maplewood
CFC Services: Provided loan collateral to enable the parish to secure a bank loan for expansion and renovation of their existing school.

Outcome: The parish received a reduction in the interest rate on their bank loan as a result of the CFC collateral provided as extra security.

St. John the Baptist School, Jordan and St. Pascal Baylon School, St. Paul
CFC Services: For each school, CFC served as financial advisor, guiding them through the approval process with governmental entities to convert portions of their conventional (taxable) debt to tax-exempt debt.

Outcome: Both schools received low-cost funding for facilities construction and/or remodeling, reducing their monthly debt payments.

St. Francis de Sales and St. James Catholic Parish Community, St. Paul
CFC Services: Provided operational assistance to the church and school in developing a budget.

Outcome: The parish community was able to improve their budget and the budget process, and identify resources to cover their needs.