In a recent landmark vote, IBEM (our church) voted overwhelmingly in favor of purchasing a building and lot (above) to build and expand its own church facility. Additionally, the building will help stage the beginning of the ministry's Christian school (in 2009) and host the Bible Institute (2008), before both move out to the property. 
 
Here is the scoop:
The good news is that church has an opportunity to buy a property sufficient to its needs now and for the next five to 10 years. The property is located almost in the middle of the city (the best place culturally for the church). This property is located not far from the present rented facility and is on a principal street. The building has 16 classrooms (was once a school) and an adjacent empty lot (sufficient to build an auditorium for 350-500 people). It is valued at more than $300,000. The church is able to purchase it for $250,000.
 
The other good news is that a businessman in Texas has graciously given $100,000 to be used as a low-interest loan (under 7%).
 
What could be bad? 

The church cannot close the deal without $150,000 more in a loan. The church is not asking for gifts. IBEM believes it is the church's responsibility to support its own work. The church along with a cooperative effort between the school and ministry, will be able to make a monthly payment of at least $2,200 per month. We expect we could pay this off within seven to 10 years, if not before, based upon current income and expected income generated from the building's use. Unfortunately, the church can only get an in-country loan for 24-28 percent interest. Obviously, that is a closed door.
 
We thank the Lord for the one man who has already given $100,000 for a loan to make this dream a reality. Will you pray with us that the Lord will send another person or a group of investors that will give another low-interest loan for the balance?

 

We have watched as key pieces of property in town have been bought up over the last couple of years. Property values, unlike in the States, are soaring. Yet, bank loans are simply unreasonable at 24-28 percent interest. This strategic property will give the church a key asset and leverage for the future. It will also provide a key building for the start-up of the educational ministries. The church is not asking for a handout, it is asking for a reasonable opportunity to participate in what God has lead our church to do and be in this country. 

 

We are praying for a miracle. Yet, we know that God uses people in His plan. Pray with us that God will lay this burden on the hearts of investors who would partner with us, in helping us take an important step forward.
 
To receive more information about the building, property, and the financial plan for paying the loan, write Pastor and Team Leader Gary Hale @   team.dr@dbmi.org

The special evening service of August 3 was standing room only, as we shared memories, praises, songs, and a vision for the future. It is not often that one loses track of time in a church service, but this fifth anniversary night was different, as people lifted their hearts in praise to the greatness of God and for His work in our church. During the service, the church formerly added its fourth monthly-supported missions project.