Churches are getting creative in how they raise money and use it for expansion and ministry.

And the faith-based businesses that serve churches are getting inventive, too, in order to help them with that need.

Since 2006, Covenant Lenders, a Gainesville-based company, has been providing loans to churches for expansion and other building endeavors. But since the downturn in the economy, the company hasn't been able to get the type of larger loans for churches they once did.

"We were putting in a lot of work, working with a lot of different churches ... in various states and putting a lot of time and energy into it, and then we couldn't get the loan to go through," he said.

So, owner Steve Souther is changing the way his business operates to accommodate the uncertain economy.

"What I'm in the process of creating is a nonprofit lending company, where we actually will become the lender ... So, we are going to raise capital to lend to churches. ... It is a huge need," said Souther, a member of Lakewood Baptist. "We are developing a program that allows Christians to participate in these church loans, so they can invest. And those dollars are turned back into the churches."

He plans to launch this new aspect of his business in the next three months, and said he's excited about the opportunity to help Christians.

Right now, though, it's not the large community churches that are having problems getting loans - it's the small to midsize churches.

The hard part for them is that their finances are based on the same criteria that commercial companies are, but churches are structured differently across the board.

"Most of your typical lenders treat a church loan like a commercial loan from the same mindset of their underwriting, and they are totally different entities," Souther said. "They are never going to have very much money set aside because they are plowing it back into the growth ... It's there to provide it continuity to a community and spread the gospel."

Churches always faced difficulty when getting a loan, but now it's even tougher.

"Most of the lenders are looking at the church market, and they are in what I call an underwriting ‘box.' ... And what they are doing is they are shrinking ... making it tougher for these churches to qualify for a loan," Souther said.

Airline Baptist Church is one local church that has been working on an expansion project, carefully setting aside money for the construction that is now under way.

The Rev. Mike Reynolds said while the church's budget is strained due to the economy, they are financially on-target for the expansion.

The project, which began last May, will be complete in March when the new Family Life Center opens.

"Last May, just about the time the economy was going in the tank, we did a capital campaign, which we were attempting to raise $2 million," Reynolds said. "We raised just shy of $1.4 million; we didn't get it all then - that is pledges."

On the first day of the capital campaign, Airline raised close to $109,000, which Reynolds said was, "very encouraging."

Reynolds added that the church didn't opt for an outright loan for the current expansion because the church was still paying for the new sanctuary.

"The church incurred a good bit of debt four or five years ago to build that sanctuary, and they had no plan to pay it off. And that kind of thing drives me nuts," he said. "It started at $3 million and we have it down to $2.4 million now. But the deal i, we wanted to build this building debt free."

So far they have raised a little more than $209,000 for the new building.

"When you do it right, you can expect to raise two to three times your annual operating budget. And if you take out our missions and other things, our annual operating budget is about $700,000. ... We raised right at two times our budget."

The Family Life Center will have 14 classrooms, a catering kitchen and a full gymnasium, among other amenities.

Across the county at McEver Road Baptist Church, the Rev. Rod Bell said his church hasn't seen economic hardships yet - but it's a different story at the Maranatha Christian Academy, the school the church operates.

The school lost a lot of students after winter break when families couldn't pay the tuition, which has hit the school hard.

"We have taken a tremendous hit financially from people that can't pay their bill," he said. "That part is very difficult for us because we entered a commitment to take care of these kids and to give them an education and take care of these teachers. ... And the funds are becoming slimmer and slimmer."

Bell said they're planning fundraising projects to help the school.

"We will have two major fundraisers; we are cutting back everywhere that we can cut back," said Bell, who also serves as headmaster. "It's a Christian education. It costs more out-of-pocket for people, and some have had to make decisions. And we planned for a whole year ... it has really hurt us tremendously."

But even with the financial hardships currently at Maranatha Christian Academy, Bell said he is optimistic, as he relies on his faith.

"The challenge for us, as with any believer, is to be an effective steward for the Lord," he said. "Stewardship is really what is most important, and the stewardship has to do with our time, our talents and our treasures. That means, because of where we are, things are a little slimmer, but we are going to press on for the Lord."