djamal-soft
الخميس، 19 مارس 2015
When a minster feels like there is the need to build a new ministry this is normally a symbol that they have gathered more followers therefore it is a good thing. Nevertheless, getting the cash to finance the construction of the ministry is not as simple as it appears. Several churches find it quite difficult to get good church mortgages hence they end up utilizing their old structures even when they badly need another one. The following are some important facts that can be utilized by congregations.
Church finances can be a source of misunderstanding among the members of a congregation because they do not know the right methods of getting the money they need. People must be very ready to look at all the available options so that that they can determine where they will get the money. There are very many mortgage loans for churches available in financial institutions and also bonds.
Churches can also acquire the money they need for construction through funding campaigns where the members of the congregation and other concerned parties will all contribute what they have and the money will be brought together to meet the construction requirements. There are also some grants that can be given to them for these purposes.
It is never that hard for churches to acquire a mortgage loan in the financial institutions because they collect a significant amount of money every year in form of offerings and tithes. If a church can be able to collect a million dollars every year, a bank can give them from three to five times that amount because they know they will have the capability to pay up.
Churches may also be offered an opportunity to get a bond and invest in it to raise the full amount of funds they will require. These are not certainly the same as traditional bonds because they have some dissimilarity. For these kinds, there are many financiers involved contrasted with the one financier involved in the conventional bonds. These are also relatively costly compared to the traditional ones.
Churches can also try starting a business that will enable them to always have some extra money to cater for their obligations. This is very helpful since they will not need to be burdened by the payment obligations. An example of a business they can do is to sell certain products to both members and non-members of the congregation.
Aside from the above methods, there are also some non-conventional sources of finances that can be chosen. Lease-purchasing is one of the options. This is a form of construction credit where the ministry will be built and paid for later. To minimize the stress of construction, the church can also buy a property that is already built if they are able to raise the full amount.
When the church management is not really aware of what they should do, they can get help from the capital stewardship companies. From here they will be able to get some advice on the best way to acquire finances and not putting their finances at risk. The above are just examples of the many options that will be presented for them.
Church finances can be a source of misunderstanding among the members of a congregation because they do not know the right methods of getting the money they need. People must be very ready to look at all the available options so that that they can determine where they will get the money. There are very many mortgage loans for churches available in financial institutions and also bonds.
Churches can also acquire the money they need for construction through funding campaigns where the members of the congregation and other concerned parties will all contribute what they have and the money will be brought together to meet the construction requirements. There are also some grants that can be given to them for these purposes.
It is never that hard for churches to acquire a mortgage loan in the financial institutions because they collect a significant amount of money every year in form of offerings and tithes. If a church can be able to collect a million dollars every year, a bank can give them from three to five times that amount because they know they will have the capability to pay up.
Churches may also be offered an opportunity to get a bond and invest in it to raise the full amount of funds they will require. These are not certainly the same as traditional bonds because they have some dissimilarity. For these kinds, there are many financiers involved contrasted with the one financier involved in the conventional bonds. These are also relatively costly compared to the traditional ones.
Churches can also try starting a business that will enable them to always have some extra money to cater for their obligations. This is very helpful since they will not need to be burdened by the payment obligations. An example of a business they can do is to sell certain products to both members and non-members of the congregation.
Aside from the above methods, there are also some non-conventional sources of finances that can be chosen. Lease-purchasing is one of the options. This is a form of construction credit where the ministry will be built and paid for later. To minimize the stress of construction, the church can also buy a property that is already built if they are able to raise the full amount.
When the church management is not really aware of what they should do, they can get help from the capital stewardship companies. From here they will be able to get some advice on the best way to acquire finances and not putting their finances at risk. The above are just examples of the many options that will be presented for them.
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