Our plan is to use $1.2 million of the $1.5 million to pay the remaining balance of our pledge loan that we took out during construction of our building. The remaining $300,000 will be added to our savings reserves, enabling us to respond more swiftly to the movements of God in our city and on our campuses. 

We currently have $5.2 million in outstanding debt. The goal of this campaign is to pay off $1.2 million of that amount, which is considered a pledge loan. This loan must be paid in two installments, one in December 2025 and the other in June 2026. We would like to raise $1 million of the $1.2 million by December of 2025 to reduce the interest accrued.

Everyone is encouraged to participate at whatever level God leads. We’re not asking for equal gifts but equal sacrifice. Prayerfully consider what generosity looks like for your family, and we’ve provided pledge cards and online options to make giving easy.

Once our debt is eliminated, we’ll have greater flexibility to expand ministry impact, invest in staff and infrastructure, and respond to new opportunities without the burden of monthly debt payments.

No. Our regular ministry operations will continue as usual. We are inviting people to consider giving above and beyond their regular tithe or offering for this specific initiative.

The debt was taken on to account for unforeseen costs that arose during the construction of our current church building. These were prayerfully considered decisions by our elders, aimed at long-term impact.

The pledge loan of $1.2 million must be paid in two payments, the first payment in December 2025, the second in June of 2026. If we are unable to raise enough funds by those dates, we will need to pull from our cash reserves to make required payments. This will significantly impact our ability to do effective ministry and respond to God’s leading. We’re trusting God to provide through His people and will steward whatever is given with care and transparency.

When we started the Redemption Church building project, the financing option with the best loan terms offered a “pledge loan” which was in addition to the principal mortgage of $4.0 million in order to bridge the gap between what we had as collateral (the building/land/cash) and what we needed to borrow to complete the building project.  The pledge loan owed was $1.8 million, to be paid in three $600k installments. By God’s grace the first $600k pledge loan installment was paid in December 2024 from the  Home giving campaign and the growing general fund.  The next two pledge loan installments of $600k each need to be paid by December 2025 and June 2026.

During the Home giving campaign, $2.3 million was given/pledged. Additionally, $600k was previously raised through a building campaign called Multiply in 2019 that was applied in cash toward construction expenses.  We also took out a $4 million base loan and a $1.8 million pledge loan.  The total project was $8.7 million. 

After we pay off the pledge loan the $4.0 million remaining principal on the loan will be paid in monthly payments from general fund giving or paid off through extra cash gifts. 

During the course of the construction project, we encountered several unexpected expenses (increase in steel pricing, unknown renovation expenses and rising inflation) that caused the project to increase in costs by $2.2 million over the initial estimate given by our builder.  In addition, we fell short of the pledge goal and general fund giving has not grown consummate to church growth.  The elders prayerfully considered removing the second story of the kids wing to counter the cost increases, but felt led to proceed as planned to ensure we were prepared for the future ministry it would allow.  This space has been used frequently in the last year for financial peace university, parenting classes, discipleship group meetings, member meetings and much more.