When you are looking for government grant money for your nonprofit organization, the deck is already stacked against you. Government grants are very competitive, with strict criteria, making it difficult to find the time to apply properly.
Nevertheless, you should know that seeking government grant money for your nonprofit organization is not the only way to obtain not for profit funding. Learn more about other options available to make the best choice for your nonprofit business.
The Pros and Cons of Government Grant Money for Your Organization
Getting government grant money can be a major milestone for a not for profit business. It is a good way to boost your organization’s image and build trust.
Still, there are downsides. For one thing, the money is usually restricted, which means it has to be spent in a specific manner and you can’t use it in areas where you might need it the most. Also, experienced grant writers, those that know your organization well and can best articulate your needs, can be hard to find.
How Financing Solutions Helps Nonprofit Organizations
If you are an existing non profit organization with at least $350,000 in revenue per year you might have situations where you know that government money would come in if you started or built a new program. Financing Solutions (www.financingsolutionsnow.com) works with existing non profits all the time, providing cash advances from $5,000-$150,000 that the non profit can use to bridge a delay in funding.
To qualify, you must have at least $350,000 in revenue per year and be able to show that you will be able to pay back the funding. The application process is very easy, requiring you to simply answer a few questions. Once approved, you will be asked to send in some backup business documentation to verify the questions you answered. This is a lot less complicated than what you can expect from other finance providers.
As a non profit organization you know how hard it is to get money from a bank. Financing Solutions is one of the leaders in providing non profit financing.
Steps to Take When You Are Looking for Success for Your Nonprofit Organization
As a nonprofit, you probably feel as if you are going into a fight with your hands tied behind you. However, there are things you can do to increase your odds for success.
The first thing you must do is make sure everyone in your organization is rowing in the same direction. You may think that all your employees and board members understand the mission and how to carry it out, but this might not be the case. Make sure your goals and objectives are clearly communicated to all key stakeholders. This is the best way to keep everyone on task and avoid wasting time on unrelated matters that don’t move your organization forward.
You can also make better use of technology and resources. For instance, you may be able to adopt tools and software that allow for more remote access. This way, staff can be more flexible and not have to stay wherever their desk is.
Another key element for success is planning for the future and funding from Financing Solutions can help. They will give you the emergency business financing you need to get programs off the ground and focus on growth.
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.