History of the Fund
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 Extension Loan Fund has assets totaling almost $60 million and is actively involved in church planting and church revitalization across the country. With these assets, the Fund has been able to finance more than 10 percent of the International Pentecostal Holiness Churches in the United States and continues to be a vital arm in the development of church planting and has been instrumental in the growth of ethnic ministries within the IPHC.
Funds used to finance church loans comes from individual investors, churches, conferences and institutions and are not funded by the International Pentecostal Holiness Church general funds. As a result, the Fund has an enormous fiduciary responsibility to protect the investments of its members and investors. While the very core of its business is about money, figures and economics, the goal is not only to help churches with due diligence, but to also foster ministry in communities all across the United States and assist in proclaiming the Gospel.
The vision launched by Robert L. Rex continues strong into the 21st century. The Extension Loan Fund is committed to being an integral part of the end-time harvest, and its best days are still ahead.