Extension Loan Fund In the 1950’s, Robert L. Rex had a vision to provide a way for congregations to access the resources needed to construct a suitable worship center. He realized many churches would not be able to secure a loan through a local bank, and he dreamt of a church-based organization that would step in and help. His dream became reality in 1958, when his son, Lonnie Rex, made the initial $100 investment. Nearly 55 years and 2300 annual investors later, the Extensio
In the early 1950s, Rev. R. L. Rex, the father of Lonnie, was sent to Houston, Texas to start a new church. After six weeks of services under a tent, many people had been saved and it was decided that a church needed to be built for the new congregation. A suitable lot was found for the new building but there remained one big problem, no money.
The church needed $8,000 and there was not a bank in town willing to loan them that much money. That was when Rev Rex came up with