If you run a nonprofit, you are obviously skilled at getting people interested in your mission and finding ways to do more with less. However, when it is time for your nonprofit to get a cash advance, you may feel as if you’ve hit a brick wall.
Many times, you may experience cash shortages at your nonprofit organization and find it difficult to start programs or handle even basic expenses. Fortunately, there are ways for a nonprofit to get a cash advance. You just have to know where to turn.
Why is it Tough for a Nonprofit to Get a Cash Advance
For-profit businesses have numerous resources to raise capital, such as selling shares. Nonprofit businesses can only get donations or apply for nonprofit loans. In some cases, even this is an uphill battle so many nonprofits look to getting a cash advance.
Still, not all cash advances are created equal. Some charge very expensive fees for their services, which can amount to tens of thousands of dollars.
Others may lock you into long-term repayment schedules that will take years to pay off. In addition, some alternative lenders have strict requirements for nonprofits, such as having more than a million dollar budget before they will even talk to you.
Where Do You Go for Your Nonprofit to Get a Cash Advance?
Nonprofit organizations do a great job of helping their communities and the planet. These days, many nonprofits are finding the help they need by turning to Financing Solutions (www.financingsolutionsnow.com).
With Financing Solutions, you can get a cash advance in as little as 48 hours. The money can be used for any business purpose, such as making payroll, purchasing supplies or starting programs early while you wait for a government check to arrive.
This kind of quick business financing can also be important for operating under 501c3 rules, where people pledge money but can take months before they actually pay. Getting a cash advance can help close the gap.
How to make it Easier for Your Nonprofit to Get Ahead
The competition for fundraising dollars and government grants is fierce. People are holding on tighter to their money and government support seems to decrease more every year. Like any other business, in order to stay successful, you have to discover ways to stand out and be better than the next guy.
One way to do this is to streamline your operations. The more time you spend on tedious tasks like calculating payroll and scheduling staff, the less time you will have to focus on the kind of big-picture thinking you need to grow your business. For many functions, you can find automated software to handle it.
Another area that is important for improvement is marketing and promotion. People can’t give to or support your cause if they don’t know about it. Social media is a great way to level the playing field between your nonprofit and huge, million dollar competitors. Post on appropriate platforms and create videos that show who you are and highlight your success stories.
Perhaps the best way for your nonprofit to get ahead is by contacting Financing Solutions. They will give you the nonprofit funding you need to take your organization to the next level.
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.