Financing church construction is, for some churches, a very easy task while for others it is a source of never-ending frustration. We could expound on some of the factors that might place your church in one group or the other later, but lets instead review the three major methods of funding church construction, along with their benefits and drawbacks.
The three major methods of funding (in part or in whole) church construction are conventional lending, bond offerings and capital stewardship campaigns. Of the first two, loans and bonds, each is available in a variety of flavors. While it is true that capital campaigns can be used as a funding source, they are more infrequently done as the sole funding source than loans or bonds. Capital stewardship campaigns are typically done in conjunction with a loan or bond. More on that later
A conventional loan is one where you will go to a direct lender or broker and get a construction loan based on the future value of the facilities you are going to build, using your assets as collateral. In a conventional loan, you are essentially borrowing all the money from one lender. Construction loans usually can be easily...
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