Where can I go for updates on the process of our loan?
You can check out this page with updated excel sheets.
I have been going to Grace for a while. Why haven’t I heard about our loan before?
The loan hasn’t been a topic of regular discussion because we have always trusted God to inspire people to give toward paying off the debt. Grace has not wanted to ‘pressure’ or ‘guilt’ anyone into giving. However, as the years have gone on, the newness of the loan, and projects we did with the money, seems to have faded in people’s memories. We felt that it was time to remind everyone of the commitment we took on as a church so that we can finish strong and continue to pursue whatever God has in store for us.
How long have we had this loan, how much did we borrow and what is the interest rate?
The loan originated on August 1, 2010 and we are paying a 5% interest rate.
How much is left to pay, and what is the payoff date?
As of June 2017 we owe $81,724.62 and the scheduled pay off date is July 15, 2020.
Why did Grace decided to take a loan instead of saving up to pay for the work?
There were two critical reason! First, reason there was a hole forming in the middle of our parking lot. In front of the downstairs double door. It was cracking and we were about a year away from a major $15-$20k repair to dig it up and fix the problem under the asphalt.
Second, we were running out of parking spaces. One of our Elders monitored the number of cars parking in our lot and discovered we were running at over 100 percent of our parking lot. Dan Thomas reported to the Elders, “People were parking in places I didn’t consider spaces.” Even now on full Sundays our parking lot can be at capacity.
The third, reason was less critical but impacted our decision was the system that removed the water from our parking lot drains and roof downspouts had been
Does taking a loan violate any ‘Christian principles’ related to debt or money management in the Bible?
We acknowledged that biblical wisdom says that the borrower is slave to the lender. And that debt is not the ideal, but debt is not sin. Debt should be avoided but is sometimes necessary. We would love to be out of debt which is why are asking you to give sacrificially to help us meet this desire.
What projects have been completed because of the loan?
Parking lot expansion and resurfacing, addressing drainage issues, meeting City requirements such as adding fire hydrants, adding a fire sprinkler system to the entire building. The major increase cost was about $50,000 to place an underground water retention system and placing a fabric mesh system to prevent the sinking due to that wonderful Chehalis clay! ‘
Why were those specific projects selected?
Some were required by building code to be completed before anything else could be addressed (sprinkler system). Others were the first steps of a larger plan (Parking Lot).
Are there other building projects Grace wants to do in the future, or are we done?
We are in the beginning phases of a growing ‘vision’ for the church. Future projects could range from smaller items such as remolding classrooms and bathrooms, up to larger projects such as expanding the worship center. We are continuing to seek God for the direction he wants us to go.
Why do I hear people talking about us being ‘short’ every month? Doesn’t the church have the means to pay back the debt?
We are ‘short’ when the giving doesn’t equal the monthly payment. Most months we are short, and to meet our obligation, we are borrowing from our savings so that we don’t default on the loan. Our goal is to see the giving increase enough to meet our monthly payment, plus an extra $1,200 so that we are also paying back what we have borrowed from ourselves.
Doesn’t part of my regular giving go toward paying down the loan?
No. Your regular giving is used to cover general expenses that are consistent from year to year. These categories can be seen in the yearly budget that is put out every January. Special projects are never included in the yearly budget because we need a certain amount to keep the church functioning ‘day to day’. Special projects always have an end date in mind, and therefore we keep these separate from the regular expenses.
How can I contribute to paying off the building debt?
We are so glad you asked that question! First, you need to meet your biblical obligation to ‘tithe’, which is returning a 10% portion for your income back to God with no strings attached. God says, “The tithe is the Lord’s” (Lev. 27:30) and we never want to steal from God, so please don’t take your tithe and use it to pay off the building debt. Also, because the tithe is the Lord’s we surrender it to him with no strings attached, meaning we don’t tell him what to do with it. Also if you take the tithe and put it toward the building that just makes it harder to meet our yearly budget. Once you have given your tithe, if you feel God has blessed you and you want to be generous, you can give an offering toward paying off the loan.
How do you help? In our giving envelopes use the line that says “Building fund” and it will go toward the loan, otherwise it will go to the general fund. You can also give online through EasyTithe. Check out this page for more info and instructions – you can select to give specifically to the Building Fund.