Finance

Giving

Debt

In God's economy the giver benefits more than the reveiver

Increase in intimacy

Increase in heaven

Increase on earth (so we can grow in generosity)

Increase in the enrichment of the company's culture

One purpose of being in business

To fund the work of God which includes the local church, ministries, and those in need

Biblical Principles on borrowing

  1. Avoid unnecessary borrowing
  1. Avoid personally guaranteeing business debt
  1. Avoid long term debt

Danger: It can keep you form thinking of a better solution

Danger: It can allow you to delay necessary decisions

Using all your assets as collateral

The profitability of a business determines the extent to which a person can give

Vision and purpose determines the extent to which a person will give

Lending

Collections

Biblical Principles on extending credit

  1. Limit your lending to those who are faithful to repay
  1. Do not extend credit to those who will be damaged by it

Goal: Reconciliation not greed to get what is yours

Unless you are paid in full every time you sell a product you are in the lending business

Tithe should be the beginning of our giving not the limit

The bible does not prohibit giving credit but we should do it in a way that is both honoring to God and consistent with Biblical principles

3 step procedure for Christians to resolve their differences (Matt 18:15-17) - practicing forgiveness and demonstrating love

  1. Go in private, contact the debtor yourself
  1. Go with one or two others
  1. Go before the church, or meet a Christian debt counselor together, see if they would submit to Christian arbitration

If all else fails there is the option of a collection agency or the courts

God evaluates your giving based on your attitude

God gives because he loves and he set the example of giving motivated by love

We are ultimately giving to the Lord - it is an act of worship

Debt is discouraged in the Bible and the Bible warns about its misuse

If we are in debt we are in a position of servitude to the lender - no freedom to choose where to use our income

Give from net income after all expenses have been covered

Give cheerfully

Have a process in place where you can assess the credit worthiness of your customers

Many businesses fail because of poor credit policies