When you are in charge of a nonprofit, your life centers on your mission, your programs and obtaining funding. Therefore, you may find it helpful to know that Financing Solutions is the center for nonprofit business financing.
They say that whatever is at the center of your life is the source of your security, wisdom and power. Thankfully, Financing Solutions can be your center for nonprofit business financing needs.
Why Banks are No Longer the Center for Nonprofit Business Financing
Just to use a bank for nonprofit loans requires a multitude of forms, regulations and restrictions. You must insure that you are following all the rules regarding the IRS, the bank and your organization’s own bylaws.
Additionally, even with a not for profit organization, banks still expect you to have tons of collateral and a stellar credit history. In truth banks typically only grant loans to the largest nonprofit organizations. This leaves everyone else out of luck.
Traditional banks also take their sweet time when it comes to funding nonprofit organizations. You must provide cash flow, balance and functional expenses statements. They also require names and signatures of all key personnel. All this does not even include your company’s rules about restricted and non-restricted funds and the time it takes to categorize it all.
What Makes Financing Solutions the Center for Nonprofit Business Financing?
Anyone who runs a nonprofit knows that it’s hard to get business financing or a line of credit for a non profit. Financing Solutions (www.financingsolutionsnow.com) is the leading provider of cash advances or lines of credit to nonprofit organizations that have revenue over $350,000.
Manager partner Stephen Halasnik commented, “Nonprofits have been great clients for us over the years. The financing products we are providing are really helping nonprofits handle the ups and downs in cash flow that almost all experiences.”
At Financing Solutions, you can get same day business financing for your nonprofit without all the stress and hassles of banks. With their help, your nonprofit can manage cash shortages and start programs while waiting for government checks and grants.
How to Make Best Practices the Center of Your Nonprofit
In the daily struggle just to keep your nonprofit afloat, exploring ways to make it better often gets put on the back burner. Adopting some best practices might help to give you direction and make your processes easier.
Correctly evaluating the impact of programs is a vital step in ensuring that every dollar is spent wisely. Collect data, conduct interviews and really assess what you are doing and how you are living up to your mission. In addition to pleasing donors and funding organizations, this process forces you to understand, verify and demonstrate outcomes.
You should also look to build a strong corporate fundraising program. Negotiating mutually beneficial relationships with like-minded corporations can expand your funding base and any matching gift programs. When your mission matches a corporation’s philanthropic goals, everyone wins.
Of course, proper budgeting is a huge factor in the stability of your organization. You can improve that with 501c3 business funding from Financing Solutions.
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.
