How to Get Financing or Funding for a NPO
Many existing nonprofit organizations (NPOs) are so busy trying to advance their mission that they forget about the money it takes. Sure, they go after government grants and donations to help their cause, but getting financing or funding for a NPO to run everyday operations often gets put on the back burner – until it’s too late.
Finding the time to get financing or funding for a NPO can be overwhelming, especially with the stresses of running programs, managing staff and volunteers and handling compliance issues. Thankfully, you do have options.
Why Banks Are a Waste of Time When Trying to Get Financing or Funding for a NPO
If you are like most people, when you think of nonprofit loans, banks are the first thing that comes to mind. However, banks are probably the last place you should go.
For one thing, when applying for a nonprofit business loan at a traditional bank, you must put up enough collateral to cover the cost of the loan. This can be difficult because banks don’t usually consider grants and private gifts to be consistent sources of funding.
There are some alternative lenders that offer loans for nonprofits. Nevertheless, they often have strict criteria, such as the requirement that you have revenue in excess of $1 million.
Where Can You Turn for Financing or Funding for a NPO?
If you are an existing non profit organization with at least $350,000 in revenue a year, Financing Solutions (www.financingsolutionsnow.com) can provide you with a cash advance or a line of credit that can help you when you know funds are coming in but you have other expenses that have to be paid, such as payroll or paying vendors.
Financing Solutions works with nonprofits all the time, so they understand your unique challenges and circumstances. They offer a fast, easy application process and quick decision, so you can have the money you need in less than 48 hours.
Tools that Can Get Your Nonprofit Organization to the Next Level
Running a nonprofit means you must become an expert at doing more with less. Still, it doesn’t have to be such an uphill battle if you learn to use some of the tools available to you.
One technique that can make things a bit easier is taking full advantage of social media. It is quite effective for community engagement and information sharing. Many nonprofit organizations only give sporadic attention to social media, usually due to time and personnel constraints. However, it has become vital as a tool to distribute issue-specific content. This will help to validate your organization’s position as a thought leader in your field of interest. You can also give supporters an opportunity to connect with each other and further help your cause.
The right software can also be an inexpensive way to handle many administrative tasks. This gives your employees more time to focus on other pressing issues. For example, you can get programs that help with donor management, special event organizing, volunteer registration and bulk email distribution.
One of the best tools for your not for profit organization is Financing Solutions. They will give you the quick business funding you need for growth and success.