Sydney Anglican Loans

 

Sydney Anglican Loans (“SAL”) is the predominant lender to the Sydney Anglican Diocese with loans to approximately 60 parishes.

Previously known as the Finance and Loans Board, SAL has been helping parishes grow and maintain their ministry since 1957 through the provision of loans for capital works.

As a lender solely focused on parishes, SAL understands the unique people and financial aspects of parish life and has developed a robust set of processes for assessing loan applications to ensure that parishes do not become overly indebted.

As a part of the Diocese, SAL is able to lend on an unsecured basis with the ability to request that Standing Committee authorise a sale of parish assets in the event a parish defaults on their obligations.

 

The following SDS staff can help with inquiries related to parish loans:

Jonathan Rochford—Lending Consultant
Email: sal@sydney.anglican.asn.au
Phone: 02 9265 1675

 

 

How it works

SAL is able to lend to any Sydney Anglican organisation which is subject to the control of Synod. Loans of up to $800,000 are generally provided on an unsecured basis for infrastructure projects that will assist ministry. Most loans are for purchasing or renovating church buildings and rectories, but other items such as organs and audio visual equipment have also been funded.

 

Terms, rates and fees

SAL offers variable loan terms of between 6 months and 15 years at competitive interest rates.

Term loans currently attract an interest rate of 4.5%, while bridging loans are provided at 5.5%.

The SAL application fee is the greater of $100 or 0.1% of the loan amount being applied for.

 

Application Form

Check List

 

Constitution and Current Membership

SAL was constituted under the Finance and Loans Board Ordinance 1957. The Board consists of three clergy members and six lay members, elected by Synod. The Archbishop is also able to appoint a member to the Board, should he wish to do so.

Current members of SAL are:

Chair: The Rev Antony Barraclough

Mr Michael Jones (Deputy Chair)
Mr Mark Boyd
The Rev Stephen Cook
Mr Alan Kilgore

The Rev Eric Cheung
Ms Emma Jonceski
Ms Myra Rosolen
Mr Luke Pearce

 

Meeting Dates

The upcoming meeting dates of the SAL are:
 

20 February 2018

20 March 2018

17 April 2018

15 May 2018

19 June 2018

17 July 2018

14 August 2018

11 September 2018

20 November 2018

11 December 2018

 

Contact

Official correspondence for SAL should be sent to

Secretary, Sydney Anglican Loans
PO Box Q190
QVB Post Office NSW 1230 
Australia

Email: ijk@sydney.anglican.asn.au

 

Parishes considering borrowing should contact:

Jonathan Rochford—Lending Consultant

Email: sal@sydney.anglican.asn.au

Phone: 02 9265 1675


Important Documents

Annual Reports