Category Archives: Church Financing

Church Financing Macomb County

If you are in need of Macomb County Church Financing, please contact Liberty Business Financing at (586) 484-7887 for more information. You can also click here to learn more about our programs.

Guide to Church Financing

Church Financing Macomb County MIThere are a variety of choices in church construction financing available to your congregation

Whether you are building or purchasing, there are several types of church financing available. Educate yourself on the choices to make the best decision and get the most for your money. Church construction financing is stressful for all members of the congregation, and those responsible for making the decisions need to educate themselves on all options.

Financing for churches is available through any combination of construction loans, private or public bonds, and capital stewardship campaigns.

1. Construction loans–Church construction loans are available as fixed or adjustable rate, interest only through construction and other options just like in home construction. Loans are available through direct church lenders and your local bank.

2. Bonds–Church bond financing is either through public bonds, which often have a lower interest rate but higher upfront cost than loans, or private bonds, which are bonds sold within the congregation.

3. Stewardship capital campaign–A stewardship capital campaign raises money for the church, reducing the amount borrowed. Once the building program is complete, many churches implement a stewardship capital campaign to more quickly pay off the loan.

Determine how much of monthly income can go to church financing
A rule of thumb in church financing is to pay no more than 35% of the church’s monthly income in total debt payments. This includes existing debt in addition to church building financing.

Establish a budget for church building financing
Developing plans before you have a clear idea of how much money your church has available is a quick way to go over budget. Work with an experienced architect and be frank about your budget and priorities. source: business.com

If you are searching for Macomb County Church Financing services, please call Liberty Business Financing at (586) 484-7887 for assistance.