Hello everyone,
I'd like to get some advice on lending money to a church for the purposes of the church buying real estate. A local pastor in GA is looking to buy the building where they currently hold services. The owner has offered to sell them the building, they are very motivated, but they don't have the asking price on hand. They don't have to borrow money as the building owner has agreed to owner finance the property with a modest down payment of 100K.
There are several members in the church who would like to lend the money for acquisition of the property. The property would be held in the church's name. It's a 501 c3 entity.
How can the members lend to the church? How can the church pay off the members at a later date along with some interest for using the money?
Thanks for your responses.
