A Line of Credit... Just in Case
How Do Nonprofits Use Their Line of Credit Mostly used for payroll #1 reason: funding is delayed and you have to make payroll Your employees count on each paycheck Illegal to miss payroll You risk fines You risk an audit Your risk employees leaving Line used for unexpected expenses Line is inexpensive Not fun asking […]
Summary: Financing Solutions shares the top 4 reasons how a nonprofit line of credit is used. Nonprofits use their Line of Credit typically to make payroll when there is a delay in reimbursement funding, when there is an emergency that has to be addressed, to start a new program early when the nonprofit knows that […]
Finding access to quick funding is the first step to turning a struggling nonprofit organization into a successful one. That’s why more and more they are turning to nonprofit lines of credit to help their business succeed. Fast nonprofit business financing is the best way to prevent a temporary cash flow issue from turning into […]