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October 28, 2012


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Sure, it would be hard to add a building without a mortgage.

I know our church has used financing to fund several expansion projects over the years, but has always taken a conservative approach to planning for payment, and thus has always been able to do so comfortably, either paying early, paying on time, and even refinancing along the way to take advantage of falling interest rates.

I have worked at three churches all of which had to take out loans for capital campaigns for building projects. Unfortunately because of low donations last year, my current church had to take out a line of credit just to pay our salaries for a month or two. Luckily we were able to pay it back quickly, and I think it was a wake-up call to our members that they need to give (or increase their giving) if possible.

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