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Why Were Pre-Recession Loan Requirements Less Stringent?

Before mid-2008, most ministries had little trouble qualifying for financing. If they met a lender’s criteria, they were deemed a healthy borrower and it was simply a matter of time and paperwork before the needed funds were in hand. Then the Great Recession hit, and when it was over, the definition of a “healthy borrower” had changed dramatically. I asked Mike Boblit, one of ECCU’s regional directors... [read more]

Category: Ministry Matters

Purchasing and Financing Existing Facilities Today

Looking to expand or relocate your ministry? Here are ten good reasons to consider an existing building, with the financing implications... [read more]

Category: Ministry Matters

Is Now the Time to Refinance Your Ministry’s Loan?

Besides personnel expenses, facility costs are often a ministry’s largest budget items. And for many, a mortgage payment comprises a significant portion of their facilities expenses. So in this... [read more]

Category: Ministry Matters

When to Finance or Not

The attendance is climbing and the membership is growing. Each Sunday you notice there are fewer empty seats. With three services already in place, you wonder how many more people you can accommodate without having to move or build? It’s a good problem to have, but it means you’ll likely have to consider financing to expand ... [read more]

Category: Ministry Matters

When to Build or Not.

You have a good problem—your church attendance is growing and you’re busting at the seams. Having found a great location in the heart of your community, your church has purchased some nice land. Suddenly you’re faced with “the building project.” Once your heart stops... [read more]

Category: Ministry Matters

Renting Versus Buying Your Church's Facility

God called you to plant a new church, and you’ve followed his calling. For the last year (or two years or five years), you’ve been renting adequate facilities to meet your congregation’s needs. You have... [read more]

Category: Ministry Matters