Debt Reduction at Shiloh
Debt Reduction at Shiloh
Paying off our debt will unleash us to continue the pursuit of our purpose and expand our mission in the years ahead. With each member praying and financially supporting this effort as God leads them, we can fulfill our dream of an incredible future in the decades ahead not only for us, but for those who follow us.
"All things are possible with God." Matthew 19:26
Debt Payoff Schedule
For every dollar we sacrificially give to pay off our debts today, a dollar is unleashed in an exponential way into ministry and mission of our church. We have two choices: pay the bank or unleash ministry. The monthly mortgage payment with our bank is more than $40,000 and the mortgage is structured to be paid off by 2029
Everyone Can Participate
- Pray for the mission and ministry of Shiloh!
- Talk with your family about debt—your own and the church's.
- Share your enthusiasm with other church members.
- Examine your finances to position yourself to pledge over the next 36 months, give a one-time gift, or as you can over the next three years to Shiloh’s debt reduction campaign.
- Jump in and see what God can do in and through you!
frequently Asked Questions
Why are we addressing our debt now?
Shiloh will benefit greatly from paying off the remaining debt on our sanctuary’s mortgage. The desire to pay our debt in full resulted from conversations with our leadership and invested members. We are excited to envision what we, the church, might look like if we were debt free. By paying off the existing debt/mortgage on the sanctuary, more funds will be unleashed for greater impact—for the glory of God.
much is our debt costing us?
Our monthly payments are more than $40,000 per month. Each year we pay down the debt on the mortgage, we save approximately $260,000 in interest payments. Since we entered our renovated sanctuary in March, 1998, we have not missed a mortgage payment.
Do debt reduction campaign funds go directly to pay the principal of the loan?
The sacrificial gifts toward debt reduction help to pay the monthly mortgage note which includes both principal and interest.
What if I haven't finished my current pledge to the debt reduction campaign?
We invite you to roll over your commitment. If you are currently making regular gifts, we would encourage you to continue this commitment until we are debt free. If you have questions regarding your pledge, please contact a member of the Debt Reduction Committee led by Barbara Williams at firstname.lastname@example.org.
Will I be pressured to make a pledge?
Absolutely not. Participation in the campaign and how much you give is entirely up to you. We ask you to pray and seek the Holy Spirit's guidance on what your sacrifice should be.
When will my pledge be accepted?
We encourage pledges and contributions at any time. We will never refuse a gift or commitment, whenever it is given. The maintenance of Shiloh’s mission for 153 years continues and relies on Saints such as yourself to support and grow that mission.
If I can't give a large amount, does my pledge really matter?
Absolutely! All pledges matter, regardless of the amount, and because as we all participate according to our ability, God multiplies our giving.
What forms of contributions will be accepted?
There are a variety of ways to give: cash, check, or via e-giving at www.shilohbaptist.org.