By Mike Schueler Out of space and out of time, Sunnylane Church needed a loan to grow. But the promise of an ultra-low interest rate turned into a financing nightmare for this Oklahoma City congregation. Drew Sanford was frustrated. He’d already wasted too much time working to secure a loan for Sunnylane Church, the Southern […]
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A lending veteran’s perspective WatersEdge began lending to churches in 1953 and has since partnered with more than 1,600 congregations looking to grow or refinance. During that nearly 70-year span, we’ve seen it all: boom years, recessions, and everything in between. So, as churches ride the waves of yet another tumultuous period in our nation’s […]
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Many things have changed in ministry over the last 2 years, leading to some new and exciting opportunities. Construction activity slowed during the pandemic and now appears to be on the rebound. Lending requests for new projects, renovation and expansion have increased and churches are primarily investing in three different types of venues: #1: Retrofitting […]
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By Alina Parizianu, CFP®, MBA, RICP® The days when Americans could count on pensions from their employers are long gone, as fewer and fewer organizations offer them to their staff. While pensions are becoming an endangered species, Social Security remains the primary source of guaranteed lifetime retirement income for many older adults. In addition, unlike […]
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At one of the fastest-growing churches in America, a favorable refinancing agreement is essential for propelling ministry forward. By RaeAnn Slaybaugh When Greg Petz and his wife, Donna, moved to San Antonio in 1996, they found their church home — Westover Hills — even before their physical home. The Petzes’ dedication to Westover grew along […]
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When I was growing up in a pastor’s home, I remember the building fund appeals and public declarations of how much we had raised for the new sanctuary. I remember watching the magic of construction progress over the next few years. Behind the scenes, however, there were meetings with bankers, bond brokers, and large donors […]
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By Rev. Dr. Perry J. Hopper, MBA After two years of doing ministry and worshipping with the uncertainty of the pandemic, most churches have returned to in-person worship. Church attendance at mainline churches had been experiencing a steady decline before the pandemic, and that has been exacerbated because churches were forced to worship online for […]
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Church Executive: Are churches typically easy targets for fraud? Sarah Barham: Yes, because typically one person is responsible for completing all financial responsibilities from beginning to end. This means one person opens the mail to review invoices, sets up vendors in the accounting software, writes the checks, reconciles the bank accounts, and produces financial reports. […]
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Infinite growth, invariable expansion At the nation’s premier multisite church, two financing needs take precedence above all: flexibility and simplicity By RaeAnn Slaybaugh North Coast Church in Vista, Calif., is one of the 20 largest churches in the United States. It also consistently ranks among the country’s fastest-growing, most influential churches. But it all started […]
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For the past 14 years, we’ve been experiencing near-historic low rates, and it appears those days might soon be gone as rates have risen over the past several months. The wonderful news? Many churches were able to take advantage of the low rates either by refinancing, purchasing a new property, or renovating or building a […]
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