A Line of Credit for Nonprofit Organizations
When you run a nonprofit, there really is no finish line. Even when you reach a fundraising or grant goal, you immediately begin planning for the next one. It would be great if you could get continuous funding like that to help fill in the gaps, such as finding a line of credit for nonprofit organizations.
If you experience funding gaps in your nonprofit, it typically means you cannot start programs early or meet daily expenses. Therefore, a line of credit for nonprofit organizations is essential to help you advance your mission.
Ways You Can Raise Capital for Your Nonprofit Organization
When you are looking for nonprofit funding opportunities, your options are limited. You could get a loan from a board member, but there are likely so many rules regarding this action that it’s not worth the hassle.
Trying to get a nonprofit loan from a bank may prove just as futile. Traditional banks have strict criteria when it comes to collateral and credit scores that most nonprofits just can’t match.
Where Can You Get a Line of Credit for Nonprofit Organizations?
What you need is an alternative lender that may be more sympathetic to your situation and mission. Many nonprofits have found success using a business cash advance company, like Financing Solutions (www.financingsolutionsnow.com).
Financing Solutions has introduced a new line of credit product for non profit organizations that have yearly revenue of at least $500,000 and the executive director or president of its board have a credit score of at least 650. The line of credit can be from $5,000-$150,000 and is very cost effective.
If you are approved, your line will be in place for you to use anytime for 12 months with renewals. You can pay back the line as early as 6 days or as late as 26 weeks. It is a perfect product for non profits to use for cash shortages, such as when payroll is due and there was a delay in a reimbursement check. To apply, visit https://financingsolutionsnow.com/campaign/creditline/
How You Can Improve the Bottom Line for Your Nonprofit
All nonprofit organizations must find ways to do more with less. This means you must constantly try to decrease overhead and still help as many people as possible. It’s not easy but there are tips and tricks that may work for your organization.
One important thing to remember is that you don’t always have to re-create the wheel or go it alone. When you have a giant list of tasks and programs you want to accomplish, look for other organizations that may be able to help you. For example, if you are planning a book drive, you might find a library willing to provide space. By partnering together, you can each decrease your workload. That’s a win-win.
It may also help to better market your success stories. By giving donors and employees real-world anecdotes about how their time and money affects actual people, you might find it easier to recruit and raise funds.
The best way to improve your bottom line is to contact Financing Solutions. They are the funding resource your nonprofit needs to advance your mission.
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.