Church financing occurs when a church takes out a loan on behalf of its members. In most cases, this is not something that an individual member has any control over, as the loans are usually taken by the church itself and then offered to the membership through what is known as a note rate. This means that if an individual chooses to move from one denomination or sect of Christianity to another, they will have no problem transferring their loan to their new church, which will back them up for their remaining payments. However, there is a way in which a person can be released from being responsible for paying off their Church Loan with Lending Club before it becomes due — either by death or by default. If you die, your estate becomes liable for repayment, but if you default on the loan, the church has a right to pursue you for its refund.
What Is Church Financing?
