Church purchase loans are a type of church financing that can be used to make purchases. The church or congregation will make payments over time, and the church purchase loan is repaid once the church has been paid off. This article discusses three reasons churches should consider this type of church financing for their next major purchase.
1) Church purchasing loans allow them to pay for major purchases in installments rather than at once, which saves money on interest rates and will enable them to budget more effectively.
2) Churches with a limited budget may not qualify for traditional bank loans but could still be eligible for a low-interest church purchasing loan.
3) Churches who take out church purchasing loans are often eligible for tax deductions, giving them an incentive to finance church purchases with church financing.
Church purchase loans allow paying for large one-time assets like buildings in installments rather than all at once, saving money on church purchase loans. They are also often more accessible than traditional bank church financing, making it easier for churches to qualify and receive money from church purchasing loans on their next church asset.