Church Wants Me To Take Liability Of A $3,000,000 Loan

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 13 October 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.5	Start budgeting for free today.
0:06.6	I'm calling because our church is expanding.
0:09.0	We're adding on to the building, taking out a loan.
0:12.6	Our church collects decent offerings every week and month, but they want some guarant tours to
0:18.8	co-sign for the loan.
0:23.1	How big is the loan?
0:27.6	The loan is going to be about $3 million.
0:30.4	And what kind of offerings are?
0:32.4	Yeah, tell me about those church offerings.
0:36.5	The church offerings are about $15,000 every week. The loan amount would be like 17,000 a month.
0:43.1	So they want you to take personal risk for a $3 million loan? A few of the members.
0:52.7	Are you on the leadership team?
0:56.4	Yes, I am.
0:57.8	Well, how do you feel about this?
1:00.4	I'm not at peace about it.
1:01.9	That's why I call it, to be honest with you.
1:03.3	We have some people that have done it.
1:05.1	Yeah, I wouldn't do it.
1:06.7	I wouldn't do it.
1:09.0	I guess I'm just kind of shocked that they would ask that.
1:12.1	I agree.
	...

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