Financing solutions for nonprofits is often limited. The general unwillingness of banks and credit unions to lend money or make loans to nonprofits reduces the options available to those organizations. As a direct result, many nonprofits are forced to choose between carrying large cash balances to ensure sufficient cash flow in lean times and risking late payment of obligations by foregoing that cash.

There are other options available, however. Keep reading to find out what they are and how they can help your nonprofit thrive.

Some small- and medium-sized business owners might be wondering why they would ever need a line of credit for their business. Cash flow is fluid, there’s always more in accounts receivable than accounts payable, revenue is strong, and they’re not having any trouble making ends meet.
While that’s a great situation to be in, things can change quickly. Unexpected expenses can happen. A key employee quits. A natural disaster disables your building or the clients simply start to dry up. Whatever situation applies to you, there comes a time in every business when there’s not enough cash to go around.
It’s for times like these that lines of credit for business were created. Allowing for a kind of liquidity safety net, business lines of credit allow businesses of all sizes to meet their repayment obligations without becoming insolvent in the event of a temporary interruption to their revenue.

It’s important for small business owners to stay ahead of trends concerning payroll financing, emergency business funding and payroll lines of credit options but often, an executive doesn’t always learn […]

Summary: We are just two weeks into the coronavirus quarantine and business owners are just starting to come to grips with the idea that a major recession is coming. I […]

The U.S. Small Business Administration is offering loans through funding provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by President Donald Trump. However, if you are […]