Published date: 02-24-2020
Last updated on: 10-08-2022
Business loans for nonprofit organizations are hugely advantageous financial tools. They allow nonprofits to take on opportunities and challenges that are otherwise out of reach plus they can increase a nonprofit’s financial flexibility and credit score when used in the right circumstances.
But some non-profit organizations make mistakes when they take out business loans. From failing to adequately plan for the interest expenses to neglecting to optimize their credit scores, nonprofits can fall prey to a number of common errors. Continue reading below to find out what those errors might be and how you can avoid them.