Potential Church has always been financially responsibile, as we minister today and plan for tomorrow. The last building project at our original campus in Cooper City required the borrowing of $10,500,000 to see the project completed. As God continued to bless Potential Church, we were given two additional church properties. This allowed us to continue expanding toward our goal of 50 campuses. Although we celebrated the generous gift of these two properties, they were in desperate need of renovation due to several years of neglect. To complete the required restorations, Potential Church secured an additional $1,000,000 loan. Those funds allowed us to open the Hallandale Beach campus in South Florida and our Pensacola campus in Florida’s northwest panhandle.
Less debt frees up more resources for life-changing ministry, and it places Potential Church in the best position to weather fluctuating economic ebbs and flows. The Bible speaks of handling debt wisely: borrow what you must and repay as quickly as you can. Our vision is to accelerate this debt reduction by tackling the outstanding balance on the $1,000,000 note. Paying this off during a 25-year-term would result in an additional $739,448 in interest. If we accelerate the payoff of the outstanding $960,000, the interest savings would be well over half a million dollars. This would immediately free up resources we would apply toward the remaining $9.8 million mortgage note, relieving our outstanding obligations.
We desire to leverage the ministry-advancing power of borrowing, while always working toward the financial freedom that our obedience and generosity can provide.
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