How Existing Nonprofits Can Get Money to Start Programs Before the Grant Comes In
Your nonprofit is planning a program. The staff is ready and you have decided on the best location and vendors. Now, everyone needs to be paid but you haven’t received your grant money yet. Thankfully, there are ways that existing nonprofits can get money to start programs before the grant comes in.
When creating a program for your nonprofit, it’s likely that you have given a lot of thought to all the people who will be helped by the money you raise. However, you must first have money to pay the people who will help to make it a success. No one really likes to think about how existing nonprofits can get money to start programs before the grant comes in, but it is necessary. Therefore, it’s also vital that you know your options.
Where Existing Nonprofits Can Get Money to Start Programs Before the Grant Comes In
Waiting in limbo can cause your nonprofit to miss opportunities and potentially delay or postpone vital programs and community initiatives. Instead of wasting time wondering what to do, turn to a business cash advance company like Financing Solutions (www.financingsolutionsnow.com). They provide finance for nonprofits to start programs, make payroll and manage cash shortages.
At Financing Solutions, they understand the unique nature of nonprofit organizations and can give you funding to tide you over until your grant comes in. Many nonprofits come to them again and again because of their easy application process and quick turnaround. They say yes when others might say no.
Best of all, there is no long term commitment. You can repay the nonprofit financing as soon as your grant comes in.
The Importance of Grants
Research has shown that, for most nonprofits, approximately 70 percent of not for profit funding comes from individual giving and corporations. The rest of the budget is likely made up of grants for nonprofits.
There is no one-size-fits-all formula for grant funding, but it is vital that you don’t put all your eggs in one basket. Make sure you have other funding sources, such as charging for services or investment income, so you are not too reliant on one donor or funding organization.
What You Should Know Before Applying for Government Grants
There are more than 1,000 grant programs managed by approximately two dozen federal agencies. That’s not counting state and local government grants available. It can be a lot to digest but these tips may make it easier.
First, make sure you do your research. Find out as much as possible about the funding agency, application guidelines, review criteria, past recipients, and anything else that may give you a boost over the competition.
Also, it might be a good idea to call the agency and speak to the appropriate department. They can give you the most current information and may even offer advice about applying.
Lastly, be sure to follow all submission directions carefully. It would be a shame to spend all that time filling out the application only to be disqualified for a minor oversight, such as improper formatting or missing a key deadline.
Of course, the most important fact to know about applying for grants is that you can get money from Financing Solutions while you wait for the cash to come in. They will provide you with the nonprofit financing you need to help make your program a success.