Taking on a church-wide loan can be a daunting experience, especially if it is the first time for your church. As your congregation grows, however, it may be a necessary step in maintaining building capacity and further reaching the community. Here are a few helpful tips to consider.
When paired with healthy budgeting practices and a humble leadership team, church loans can be extremely helpful in facilitating necessary expansions or improvements to church buildings. However, it is important for church leaders to be aware of these various dynamics in institutional lending before taking on a church loan.