Buying a new building is a big step and comes with some financial needs. Based on our loan pre-approval we hope to raise $250,000 on top of our current equity and savings. There are essentially two ways for us to close this gap. The first is donations, which are very helpful to reduce the overall debt carried by the church. The second way we call 'Alternate Lending'. We used this approach when purchasing our current building and it worked very well. FCBC received funds at a lower interest rate than available from a bank, and lenders received a higher rate than provided by traditional savings accounts.

Here’s how the Alternate Lending program works:

  • You pick the interest rate, anywhere between 0.0% - 3.0%

  • You pick the term, either 5-year or 10-year

  • Interest pays at the end of term

  • Minimum loan amount is $2,500

  • Funds must be received by May 1st (April 14th would be even better)

If you would like to participate, review this sample Certificate of Deposit Agreement. Then if you would like to have a more detailed conversation, contact Joe Raybell ( ) or David O’Hara ( ).