General Information on Loans
On September 1, 1954 the Revolving Building Trust, a Loan and Investment Fund, came into existence. It began with an initial gift of $88,000 from the Revolving Building Fund of the Baptist General Conference. The formation of the Revolving Building Trust challenged Conference church members to invest their reserve funds in the Trust, to be made available to Conference churches as 1st mortgage loans for the financing of new buildings. In 1989, the BGC Cornerstone Fund was established as an Illinois not-for-profit corporation, taking over the operations of the Revolving Building Trust.
Since its inception, the Fund and its predecessors have financed more than 775 church building/remodeling projects within Converge Worldwide (BGC).