ECCU Blog

by Jac La Tour

A loan denial isn’t always bad, especially if it leads you to implement a best practice. According to When the Bank Says No  a Your Church blog by Lee Dean, being rejected for a loan request creates an opportunity for your ministry to “pursue another lender, adjust the project, improve its financial situation, or a combination of the three.” One way to improve your financial situation is by assessing your ministry’s cash reserves, an important best practice whether or not you’re trying to get a loan. But getting your reserves where they need to be, your ministry can be in a better position to secure that loan approval sometime down the road.

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