Partnering for Kingdom expansion on Florida coast

Problem-solving and enhanced ministry were in full swing for a $16 million project at First Baptist in Melbourne, Fla. Christian Investors Financial (CIF) consulted with the church and provided financing.

First Baptist worked closely with CIF and design builder Cosco & Associates, with Executive Pastor Darren Wolfe taking the lead on financing.

“We left no rock unturned. We looked at traditional loans through banks, big banks, local banks … and then we found you guys (CIF) through a recommendation,” said Pastor Darren.

Stewardship, rates, improved facilities

He said CIF’s rates were competitive, so the church could be a good steward.

Secondly, knowing that their partner was involved in Kingdom work was important. “To know that the interest rate that we’re paying is going to be recycled into other projects was just the icing on the cake.”

By more than doubling the size of its sanctuary, the Southern Baptist congregation on Florida’s east coast was able to transition from three or more services to two, while improving other aspects of its ministry.

The new sanctuary seating 1,400 still feels fairly intimate for such a large space, said Lead Pastor Scott Wilson. A well thought out design left the most distant seat from the front platform just 20 feet further away than in the old sanctuary, which had seated 650.

While a new and large meeting space, closer children’s ministry and impressive baptismal garner attention, attendees often say it still feels like they are part of a family here and they’re not lost in a sea of people, he said.

Reaching the community for Christ

First Baptist ran a capital campaign called Greater Things to encourage people to contribute toward project costs. Pastor Darren said one of the greatest blessings was the campaign focus, which was not on the building alone, but on reaching the community.

“The idea was we’re going to see the Lord do greater things, one of which is providing space for your neighbors to come,” he said. First Baptist is also on track to plant 10 new churches within a decade’s time.

The financing for about half of the church project cost was a critical component. “Once we became partners, just working with you all has been a dream,” said Pastor Darren.

Easy to work with, flexible

The executive pastor said he has enough connections to know that getting draw payments from traditional banks or bond companies can be super painful. He said CIF has enough controls in place to where it is not flippant, but remained flexible as the church was building during the COVID period.

“We had months where our (building) schedule just got trashed, to where with a normal bank, showing a request for a (funding) draw when there’s no progress or milestones, things like that really would have put us in a bind.”

Pastor Darren said there was open communication with CIF. “Having someone you trust, the same voice or face that you’re dealing with consistently was great.” From a build perspective, he said CIF saved him lots of time not having to manage the financing cycles, time he could then use on other parts of the project that needed his attention.

He said he was able to spend needed time on project design solutions and second level solutions because CIF freed him up from a lot of the financial paperwork.

Questions, uncertainties resolved

COVID caused the church to go way past the normal interim financing period. Pastor Darren was worried. Would that trigger the loan conversion, from a construction loan to the permanent, amortizing stage when both loan principal and interest are paid? Did the church have to get a second loan? What about the interest rate the church had locked in?

“Instead of forcing us into something, Scott Achterling (from CIF) sat down with us … and they gave us three options. We were able to do what was best for us and that was a relief.”

There were no artificial deadlines added to the building schedule or nonsensical rules for the process of paying vendors, he explained. CIF also helped the church to work through significant challenges with high property insurance costs in Florida.

Far different than a bank

This level of partnership, Pastor Darren said, would never take place with a large bank, which would have a checklist and a risk management team that he wouldn’t know or ever get to meet.

“Versus, being able to just talk with a CEO. It’s been huge, to feel like we have the same level of partnership with our lender as we do with our builder has been something that I didn’t expect,” he said. “It’s just been great.”

Reaping the benefits

Pastor Scott said he’s already seen how the new building enhances ministry. Having space to be together after services has led some attendees to stay for 30 to 45 minutes afterward to fellowship and talk.

Learn more about
Church Loans

Pastor Darren said the building looks nice, but it functions even better than it looks. “Cosco did such a great job. It is a beautiful building.” There are spaces for children, to easily find information and way-finding is much easier, he said. Attendees can get around more easily.

“We’ve created an atmosphere of, hey, come relax at church, sit and talk for a while,” said the executive pastor. “It’s just a resource for us to reach the community.”

A recent baptism service drew 300 people to the new church atrium where 49 people made a commitment to Christ. “Just hearing everybody cheer and starting to see that, a tool like this, the Lord can use it to reach a community. That was an ‘aha’ moment,” Pastor Darren said.

Reaching construction workers

Even as the building was being constructed, ministry was happening. The church’s community pastor had a heart for the construction workers, as most were not believers, Pastor Scott explained. The church served them weekly lunches, had devotions and shared Christ. “We’d give away Bibles and tracts.”

Pastor Scott didn’t know the full impact, but said there were two construction workers they were able to pray with and lead to Christ, one at the start of the project and one near the end.

“That was just a neat thing to share with our people, because we prayed specifically that God would bring the workers to know Christ during the project. The doors aren’t even open yet and people are already being saved, so that was just really cool to share.”

Meeting needs, supporting church’s purpose

Pastor Scott said he had a recent conversation with their architect from Cosco & Associates, who stopped for a visit. “We are a year in, and I honestly can’t think of anything major we would have changed or done differently.”

The building and church as a whole are there as a launching pad where people can discover their spiritual gifts, embrace their calling and then be sent out, he explained.

The Lord led First Baptist to something that’s been a really helpful tool, he said. “It’s really meeting all the needs that we have, so we are thankful for that.”

The executive pastor said building projects are not fun, but they are worth it. “Reaching that point has been great.”

The new building supports First Baptist’s vision to “Make disciples here and everywhere for the Glory of God.”

To learn more about CIF church loans and consulting, we encourage you to explore further on our site.