The HSC Board made the decision to refinance the Guest House and place the property title in the name of Hospitality Services Center, Inc., dba Phoenix Menno Guest House. We were extremely pleased that Everence was willing to partner with us and extend us credit through a 15-year commercial loan. This was an important step for the long-term financial viability of our ministry. On the downside, because of the shorter 15-year amortization on the loan and higher interest rate as a commercial loan, it means that our monthly expense for principal and interest payment has increased several hundred dollars per month, placing a little more pressure on our fundraising efforts. We look forward to the day when the loan is paid off and we do not have to relay quite as heavily on donations. Whatever the future is, we are engaged, trusting God will bless this ministry and all those who are touched by the volunteers who so faithfully give of their time and talent.
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