2025 Annual Loan Association Report

In 1951, the Baptist Missionary Association of Texas met in Lubbock. At that meeting, a motion was made that the moderator appoint a five-man committee to present a plan to establish a loan fund for the purpose of aiding new churches in erecting buildings for worship and that the Mission Board be given the authority to act upon this plan at its next meeting.  During the same meeting, a suggested draft of a constitution and bylaws of the Loan Association of the Baptist Missionary Association was presented to the messengers present. The constitution was adopted by the Association the next year when it met in Dallas.

With a slight name change than what had been considered, the Baptist Missionary Loan Association was chartered as a Texas corporation on April 22, 1953 and became a department of the Baptist Missionary Association of Texas. The first meeting of the board of trustees was scheduled for April 30, 1953, but surprisingly only three members of the 13-member board were present, so no business could be transacted. With no quorum, the meeting was adjourned until such time as a majority of trustees could be present.

It appears that another meeting took place later that same day. In the meeting, E.D. Keller, who also served as the corresponding secretary of the Baptist Missionary Association of Texas (a title later changed to director of State Missions) was elected as the first business manager of the department.

Having become a department in its own right, what is now the Baptist Missionary Loan Association’s stated purpose is to promote harmony and concert of action among churches cooperating with the Baptist Missionary Association of Texas, and to assist churches by making loans for the purpose of purchasing property, erecting and equipping new buildings for said purposes.

Until 2021, the Baptist Missionary Loan Association provided loans to churches within the Baptist Missionary Association of Texas. However, messengers present at that year’s association meeting approved that the loan association could also begin offering loans to any church with the Baptist Missionary Association of America.

The loans provided to churches by the loan association include loans for land and church building purchases, remodeling and renovation projects, and construction of  church sanctuaries, educational buildings, children’s buildings, fellowship halls, family life centers and more.                

The only way for a church to get a true borrowing capacity amount is to complete and provide a loan application. The loan association requires first lien on all loans. Applications for loans can be found on our website, BMLA.org.

Any church, group or individual can invest with the Baptist Missionary Loan Association. Investment certificates, which are no different than certificates of deposit are available and currently pay 3 percent interest to the investor. A minimum of a $1,000 deposit is required to secure an investment certificate. Share accounts are also available for a $5 deposit and pay 2 percent interest.
​
So far this year, the loan association has provided five loans and four more are in the works. Any church in need of a loan or any church or individual who would like to invest with the Baptist Missionary Loan Association is encouraged to email Director Jerry Fulton at [email protected] or call 972-923-0758.

Back to Issue