ECLOF was first registered as Ecumenical Church Loan Fund on April 29, 1946 by two private Swiss bankers – Gustave Hentsch and Georges Lombard – together with Dr. Visser’t Hooft, the man who later became first General Secretary of the World Council of Churches. Further capital was endowed by John D. Rockefeller, Jr. and the predecessor to the World Council of Churches. Gustave Hentsch was President until 1962 – when he was succeeded by his son Leonard.
ECLOF was established as a non-profit foundation under Swiss law. The founding members were concerned about postwar Europe and the need to reconstruct damaged or destroyed churches. Initial funding was donated by churches and other organizations. ECLOF actually raised some USD 325,000 in donations in its first three years.
First loans were provided in France to acquire houses for pastors and their families, contribute to the cost of an orphanage and finance housing for homeless youths. Later, loans were made to churches in countries across Europe.
