COVID-19 Message

Lutheran Association for Church Extension (LACE) is closely monitoring the outbreak of Coronavirus (COVID-19) and has prepared to continue our operations even while practicing the restrictions placed on us by this devastating disease. These past days have seen unprecedented financial distress and growing concerns. While uncertainty abounds with each day, we remain in a strong financial-capital position. LACE has operated for over 50 years while having endured many events and obstacles. By God’s grace, we have grown and have remained faithful and strong.

LACE will be able to continue operations (including transactions) through any potential disruption or quarantine. The only delays we could possibly anticipate would be in monetary transactions based on availability of service with our bank (Fifth Third) and of course the US Postal Service. Our office is currently closed for personal service but our staff is available by email, for Jessica (LACE secretary); This email address is being protected from spambots. You need JavaScript enabled to view it. , for Lois (LACE accountant); This email address is being protected from spambots. You need JavaScript enabled to view it. , for Don (Our CEO and president) This email address is being protected from spambots. You need JavaScript enabled to view it. , or by leaving a message on our phone service at (989) 781-1600. If you prefer to use the postal service, our address P.O. Box 6402, Saginaw, MI 48608.

We love our Church and we love our churches and church organizations, which is why LACE has instituted a procedure of postponing the loan payments of our churches and church organization clients.

If you find yourself in this predicament of short falls of cash flows due to the Covid-19 virus please:

  1. Write or email us of your situation so then we can stop any ACH auto-payments that are set up and document in the file the reason for this action.

We will then postpone your loan payment date in our system. When we are all out of this crisis your payment interest that has accrued will be capitalized into the current balance of the loan, you can then continue to make the payments as agreed.

We are here to help you return your focus to serving the people in your community and sharing the Gospel of Jesus Christ as quickly as possible.

Frequently Asked Questions

Q? Are there any additional costs incurred in obtaining a LACE loan?


Like any mortgage loan there will be costs for Title Insurance, Mortgage recording and general closing costs. These will vary on each loan depending on the size. LACE works with a Title company who will handle all the paper work and then pass the costs on to the congregation. These costs may be paid up front or paid from the loan proceeds.

Q? Do you have materials explaining the LACE loan program?



We have a growing resource in our PUBLICITY section. Also, feel free to call the LACE office to answer any additional questions you might have.

Q? Why is the LACE loan program beneficial to a congregation obtaining a LACE Secured loan?


LACE will collect the money for the certificates, issue the certificates, issue the interest annually and provide privacy for the investor. The investor name and amount invested will not be shared with the congregation. The congregation does not have to deal with any of the paper work involved with the certificates and will just know the total amount of funds invested.

Q? How do I go about investing in a LACE Certificate?


An Annual Offering Circular provides the background information and includes an application. This can be found under the INVESTMENTS section of this Web site or by calling the LACE office for a copy.

The purchase of LACE certificates is subject to risks, which are described in LACE's Offering Circular. This is not an offer to sell or request to buy LACE certificates. The offering is only made through the Offering Circular. LACE will not sell securities in any state where the sale is not authorized.

Not FDIC or SIPC insured - Not a bank deposit - No WELS or ELS guarantee

Q? Can any WELS/ELS congregation qualify for a LACE loan?


LACE requires an application be completed before the Board of Directors can review a loan. The facts and supporting documents in the application will determine if the church will be considered for a loan. LACE loans are for congregations that no longer receive any kind of subsidy from the Synod.

Sunday, April 18, 2021