21 Aug Honduras Conference Struggling with Serious Debts
For several years, Honduras Conference has been struggling with serious financial issues focused around the Bethel Institute in La Ceiba, a school begun during the 1970s. The school faces a $1.4 million debt.
Last weekend, the conference board voted to proceed with selling the school. On Monday, Superintendent Gonzalo Alas (right) traveled to San Pedro Sula to meet with potential buyers. The buyers will meet with the conference board on August 31.
In addition, the bank had threatened to start foreclosure proceedings last Saturday. However, just in time, the conference secured funds to cover part of the interest on the loan, and the bank backed off from starting foreclosure. However, funds will be needed for upcoming payments. They need about $13,000 to bring payments up to date.
Completing the sale of the Bethel school will take a few months, but the sale will only cover an estimated 70% of the total debt, which includes unpaid salaries, delinquent pension payments, and loans.
Please keep Honduras Conference in your prayers as they wrestle with these daunting issues. Pray especially for our national leader, Rev. Gonzalo Alas, who is seeking to guide the conference out of this situation while continuing to encourage pastors and churches in their local ministries. These financial issues distract from his passion of church planting, and also affects the conference’s ability to support their missionaries, Milton and Erika Pacheco, who are serving in Chiang Rai, Thailand.