17 April, 2024

Louisville Bible College Eliminates Its Debt

by | 14 February, 2024 | 4 comments

Louisville (Ky.) Bible College hosted a Celebration Service on Feb. 3 at Life Bridge Christian Church adjacent to the LBC campus, wrapping up the college’s 75th anniversary observance in 2023.  

Since 1948, Louisville Bible College has been committed to “Educating preachers and other Christian leaders for Christ’s church.” Due to a debt load of hundreds of thousands of dollars, LBC did not hold classes in 2015-16. However, under the leadership of Dr. Tom Mobley, who returned for a second tenure as president of LBC, the college “rebooted” with classes resuming in the fall of 2016.   

Eliminating all college debt was a key factor in the rebooting process. In 2018, Christian Financial Resources entered into a 15-year loan agreement with LBC to underwrite the college’s indebtedness. LBC was able to pay ahead on the loan and in November 2022 refinanced the remaining debt with the Christian Restoration Association at 0 percent interest, part of CRA’s Recycled Riches program. 

John Mitchell, CRA’s executive director, said, “It was a true privilege for the Christian Restoration Association to assist LBC in their debt-free campaign by providing them with one of our Recycled Riches loans. We were thrilled to take advantage of the opportunity to partner together to advance the mission of LBC.”

In conjunction with its 75th-year anniversary, LBC launched a fund-raising campaign, “With an Eye to the Future,” to raise $75,000 to help eliminate its remaining debt. As only God can do, the goal was not only met, but enough funds were donated to erase the college debt completely!   

With its debt eliminated, the college is now looking to the future and to the effective fulfillment of its mission. A task force is currently working to present recommendations for future ministry opportunities to the Board of Regents. Special attention will be given to student recruitment, IT needs, and operational systems.  

As LBC’s bright future unfolds, President Kerry Allen and the administration team, along with the Board of Regents, recognize the gracious hand of God that has brought about this tremendous blessing, and are committed to operating debt-free in the years to come.   


  1. Debbie Mitchell

    Congratulations, LBC!

  2. Bob Stacy

    Praise the Lord!

  3. Michael Kelly

    This makes my heart praise God!!! Love my LBC family

Submit a Comment

Your email address will not be published. Required fields are marked *

Latest News

Bodies Found in Oklahoma ID’d as Missing Kansas Women

The Office of the Oklahoma Chief Medical Examiner has positively identified the remains of two people found Sunday as Jilian Kelley, 39, and Veronica Butler, 27, who had been missing since March 30 when they left their homes in Hugoton, Kan., to pick up Butler’s children in rural Oklahoma. Four people have been arrested in connection with their disappearance and deaths. . . .

Ministry Help Wanted

Recent postings: Lycoming Christian Church in Linden, Pa., is seeking a minister of children, youth, and young adults. Michigan City (Ind.) Christian Church needs a senior minister. Impact Christian Church (Moon Township, Pa.) looks to hire an executive pastor. The Christian Campus Foundation (CCF) at the University of Illinois is seeking a full-time director of campus ministry. And more . . .

Two Dead Bodies Found Amid Investigation of Missing Women

Law enforcement officials in Oklahoma recovered two dead bodies Sunday amid the investigation of two women missing since March 30. Both of those missing are moms from Hugoton, Kan.; one of them is the wife of the minister of Hugoton First Christian Church. . . .

Four People Arrested in Connection with Women’s Disappearance

Four people have been arrested in connection with the disappearance of two missing Kansas women—including a Christian church pastor’s wife. All four of those arrested have been booked into an Oklahoma jail on two counts each of first-degree murder and kidnapping, the Oklahoma State Bureau of Investigation said. . . .

Follow Us