How a Nonprofit 501C3 Can Get Emergency Funding
Often, people will ask business owners where they see themselves in five years and how they are planning to get there. However, a majority of small businesses have more immediate concerns, such as how a nonprofit 501c3 can get emergency funding.
When your organization is just trying to make it through the week, it can be tough to also think about long range planning. For example, if you are wondering how a nonprofit 501c3 can get emergency funding, you are probably not thinking about how to grow your business. Thankfully, you do have options.
Where Can a Nonprofit 501C3 Get Emergency Funding?
Even in the event of an emergency, your employees still expect you to meet payroll, your communities will be looking for programs and your bills will come due. That means you need money now and banks are simply not willing to provide a nonprofit loan under these circumstances.
Your best option is a business cash advance company, like Financing Solutions (www.financingsolutionsnow.com). They offer a fast, easy application process so you can get the cash you need in less than two days.
With Financing Solutions you can get money now if you are waiting for a government grant check to come in or you just find yourself facing a cash shortage. If you are an existing non profit with at least $350,000 in revenue per year, you are eligible for nonprofit financing.
Best of all there is no long term commitment and no one has to know your organization is having financial difficulties. You can repay the money in a few short weeks or months without early repayment penalties.
How Emergencies Can Affect Nonprofit Funding
Many nonprofits underestimate the potential havoc that can be caused by an emergency. If you think the same, you will be in for a rude awakening when you learn it’s actually harder to bounce back.
For instance, your computers could be out of service for several days or you could lose important documents or supplies if your basement gets even a few inches of water. If you are on deadline to complete a proposal for a government grant or in the middle of planning a big annual program when these disasters happen, it could take weeks or months to get back on track. During this time, your communities will still need assistance.
The Importance of Emergency Preparedness for Nonprofit Organizations
It doesn’t matter what kind of nonprofit business you have or where you are located. Natural or man-made disasters can strike at anytime. Even if you are not in a typical hurricane or tornado-prone area, there are other catastrophes that can occur. For example, you could experience a fire, flooding from a broken water pipe, or a roof collapse. You might be hit by computer hackers that steal donor information. Whatever might occur, you need to be ready.
Having a written plan is crucial. Develop a list of possible disaster scenarios and create strategies to handle them. Check with your local emergency management department. Have them review it to ensure you don’t miss anything and that your plan is sound.
You should also have a continuity plan unique to your organization. This should cover situations such as what you will do if the CEO incapacitated. Additionally, everyone should know how you will operate if your primary physical location becomes unusable.
Of course, the most important part of emergency preparedness is financial readiness. This can be handled by calling Financing Solutions. While you are busy helping others, they will give you the emergency nonprofit funding you need to help yourself.
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. This makes it an excellent backup plan.