As announced at our August Calvary Quarterly, we are reaching out for help in the reduction of our existing building loan. Over the past 13 years, we have seen God’s provision for this local church in the paydown of our loan from over $7 million back in 2009 to its current amount of $1.5 million. Our current loan is coming due in June 2023, and it is our desire to reduce our monthly loan commitment so that the funds that are currently being used for its payment can start being used to add staff, strengthen ministries, and increase our involvement in reaching our surrounding community with the Gospel of Jesus Christ!
How We Arrived at This Financial Position
Back in 2007, the city told us our children's building was no longer up to code; rather than reinforce the aging building, we set out to build an improved building that would enable us to better minister. The initial cost for construction was between $5-6 million. Because construction costs skyrocketed, the final cost came out to $10 million. While we fundraised $3 million in the first years of construction, we had to secure a loan of $7 million dollars to continue any further.
Pouring Out Financially, so We Can Better Pour Into Ministry
Since our loan is due June 2023, we're relying on the Lord's provision and timing in lowering our monthly payment. If we're able to avoid refinancing or securing another loan, we'll be thankful to the Lord for that. Not only would this free us from our financial responsibility, but would allow us to use the would-be-loan-payments for ministry instead, whether that looks like hiring staff, covering maintenance costs, or providing more programs or opportunities for ministry in our church.
How to Give
We are running this Capital Campaign from now until December 31, 2022. We're asking that members and regular attendees prayerfully consider giving beyond their regular contributions.
Checks should be made payable to Calvary Bible Church, noting “Capital Campaign”; Venmo (@CBC-Burbank); Zelle (Send to: firstname.lastname@example.org). We look forward to seeing God work in the hearts of you, His people, for His glory. Thank you for prayerfully considering how God may call you to take part in the reduction of our CBC building loan.
Our Mission is Twofold
1. Pay off the Building Debt
2. Free up Monthly Finances for Ministry
Should you have questions, reach out to email@example.com.