write an article on When To Borrow And When Not To.
Hello, I am looking for someone to write an article on When To Borrow And When Not To. It needs to be at least 1250 words.
The author tells that borrowing argue that churches start borrowing they are doing what most people do – take credit or loans for home, car and other personal requirements. Besides, according to Bible, Believers are to avoid getting into a position of financial bondage and We are told we cannot serve two masters, both God and money (Matthew 6:24) (cited by ECCU, n.d.). Borrowing amounts to violating the principles of the scriptures. Borrowing is always done on the presumption that the asset against which money is borrowed will be able to pay off the debt.
This, in other words, binds the church to the organization that lends it the money for the building, which according to the Bible is not permissible. The Holy Spirit thus becomes indebted to another Master but serving two masters is also not permissible. Hence borrowing money for building the church is primarily violating the principles of the Bible. Debt is a burden and God does not supply our need to repay a debt (Rapidnet, n.d.). Believing that God will provide for our material in the form of debt is like saying that God provides forgiveness for our sins through sins.
The opponents contend that believers are trying to find refuge in making others believe that God is providing funds through a loan for a church building. The New Testament firmly forbids believers to have debts and it also tells we should not even expect to be paid back if we lend (Luke 6:34). On the other hand, if a church lacks funds to build a building, it should be accepted as the will of God. Jones (n.d.), however, contends that debt is not a sin although the exit plan should be in place before taking loans.
This means the church should be in a financially sound position before it plans to borrow. Jones suggests that borrowing should be for the least amount for the shortest period and at the cheapest rate of interest. The church should not already be in debt at the time of taking a fresh .loan and the loan should be payable in a maximum of seven years. .