The First Step
In 2017, God moved in a swift and sure way and the people of Piedmont Church raised $189,145 in just six weeks for down payment and renovation costs to purchase our new home. Of the $750,000 purchase price, $150,000 of the funds raised was put down at closing. We took a mortgage out with One South Bank for $455,000 and agreed to pay a second lender an additional $150,000 in 36 months.
Being in our new facility has allowed us to do things we have never done before like host All-Stars Week, allow students to have their own room, host church fellowships, and so much more. It is now time to begin to pay off the money owed to the second lender, which we agreed to do by May 2020, while also maintaining our current budget and mortgage payments.
The Next Step
Once the $150K debt to the second lender is paid in full, we will have just our remaining mortgage payment (which has a current balance of $442,700) which is approximately the same as the payments we previously made on rent of our other facilities. This will put Piedmont Church in an incredible position to take on additional improvements and projects for our property such as expanding the parking lot, adding a covered entry, an event barn, or other exciting projects. The possibilities are exciting and inspiring.