Where a Nonprofit Can Turn for Emergency Funding
You see it in buildings everywhere: in case of emergency, break glass. If your nonprofit organization is faced with dire circumstances, you need to know what to do and where a nonprofit can turn for emergency funding.
Emergencies can happen in any business or industry and you never know when or how they will occur. What you can do is prepare, by knowing where your nonprofit can turn for emergency funding. When you know where to go before an emergency strikes, it can save time and may mean the difference between the success and failure of your nonprofit business.
What to Do If Your Nonprofit Needs Emergency Funding
A true test of leadership is recognizing a problem before it becomes an emergency. Still, not all crises can be avoided. If you do experience an emergency, how you handle it may be more important than the crisis itself. During these times, your nonprofit will need to secure emergency funding.
In an urgent situation, you need fast nonprofit business financing. However, banks tend to be most uncooperative in these circumstances. Traditional banks don’t always understand the unique challenges of nonprofits and are typically unwilling to grant nonprofit business loans for emergencies.
You could apply for a nonprofit grant to help in an emergency. Nevertheless, government funding agencies take a long time to get your money to you. Additionally, some funding agencies state specifically that they do not provide emergency assistance to nonprofits.
Alternative Lenders Are Where a Nonprofit Can Turn for Emergency Funding
A recent report showed that only about 20 percent of nonprofits keep at least six months worth of funding in a cash reserve. Some don’t even keep three months worth. This means that an emergency or unexpected expense could cause them to shut their doors.
Situations like this can be avoided with fast not for profit funding. Your best option is a business cash advance company, like Financing Solutions (www.financingsolutionsnow.com).
With Financing Solutions, you can get the nonprofit financing you need to keep operating while waiting for government checks or donations to come in. You must have at least $300,000 in yearly revenue to qualify.
They work with nonprofits all the time so they understand your unique challenges. Best of all, there is no long term commitment. You can repay the money in a few weeks or months, when your cash flow improves.
Tips to Turn Your Nonprofit Around
You are dedicated to your mission and know that your cause is just. Still, why is running a nonprofit organization so hard? In today’s economic and political climate, many nonprofits are struggling. Here are some tips that may help you turn things around.
One of your first tasks must be preparing to ask for donations anytime and anywhere. Develop an elevator pitch so you can quickly and succinctly explain what you do and why people should care. It should engage your audience, tell your story and encourage results.
You should also design your website as a fundraising machine. Make sure people can find you quickly and donate easily. It should be attractive, informative and generate compassion for your mission.
The ability to get quick nonprofit financing is the most crucial job for any nonprofit leader. You can achieve this with a nonprofit line of credit or cash advance from Financing Solutions.