In interviews, black bankers explained that they try to offer modifications to black churches whenever possible. Jim Sillis of M&F recounted that in 108 years of lending to black churches, the bank had seen only two failures because the bank always tried to work with the church first. Other mainstream banks are not so merciful. Bankruptcy law expert Pamela Foohey’s research revealed that black churches made up around 75 percent of bankrupt congregations over the last decade. This number is astonishing because black churches represent only 21 percent of churches nationwide.
