Financing Solutions Provides Nonprofit Financing Funds for Smaller Nonprofits
Every small business owner dreams big. To make those dreams a reality takes business capital, and lots of it. That’s why Financing Solutions provides nonprofit financing funds for smaller nonprofits.
To achieve your goals, you may need more than just government grants and donations. You must find more sources for nonprofit financing funds. Thankfully, Financing Solutions (www.financingsolutionsnow.com) is here to help.
Why Banks and Traditional Lenders Are Not Ideal for Nonprofit Financing Funds
When struggling to starts programs and grow bigger, smaller nonprofit organizations will often turn to banks for assistance. However, most are told to turn around and walk back out the door and instructed to return only when they become larger.
For one thing, banks require tons of collateral. You will also have to provide legal documents, a resolution of the board of directors and information about your history and management.
They will also be very strict about your repayment methods. For instance, since most nonprofits have uneven cash flow, you may find it difficult to make these payments consistently over several years and,as a result the bank will reject your application.
You could turn to other traditional lenders for a nonprofit loan. The Nonprofit Finance Fund is a well known financing company but unless your non profit wants over a loan of $500,000 or more, they will not help you.
Why Financing Solutions is best for Nonprofit Financing Funds
To get the nonprofit funding it takes to grow and thrive, you need a lending organization that understands the unique challenges and circumstances you face. Financing Solutions works with smaller non profits all the time and they are willing to provide $5,000-$150,000 cash advances or lines of credit.
As long as you have been in existence for at least three years with more than $350,000 in yearly revenue, you are eligible to apply. The application process is fast and easy, making this an ideal funding source for dealing with cash flow or emergency issues.
Most importantly, there is no long term commitment. You can repay the money from a cash advance in a few weeks or months, when your government grants or donations come in. Working lines of credit are available for up to 12 months, with no pressure to reapply.
How to Improve Your Nonprofit Financing Efforts
It’s clear that you are passionate about your mission. You would not have gotten this far without that drive and determination. Still, you also need a big dose of practicality to help your nonprofit succeed.
One of the first things you should do is to get smart about your nonprofit funding options. Of course, you need a diverse mix of funding sources, such as donations, 501c3 loans, government grants and cash advances. However, if any of these choices have not panned out in the past, don’t focus your efforts and time on them. Ignoring a funding source may seem like shooting yourself in the foot, but this move will prove successful in the long run.
You must also make sure you have the infrastructure necessary for growth. Determine the best facilities, hire key people and give them the tools to carry your mission where you want it to go.
The greatest way to improve your nonprofit is to contact Financing Solutions. They will give you the not for profit funding you need to go from vision to veracity.
If your nonprofit would like a line of credit that you can use when cash flow is down please visit www.fscreditline.com/np to learn more, to apply and to receive a written offer. A Line of Credit for your nonprofit costs zero to set up and zero until you use it, making it an excellent backup plan.