Life grants us nothing without hard work. If you are looking for 501c3 grants, you already know it’s an uphill battle and the amount of work may seem insurmountable. It may help you to learn that there is an easier way.
Sometimes it seems like 501c3 grants are only available if you have political connections or millions of dollars in assets. Thankfully, there is something better. You just have to know where to look.
Consider a Line of Credit as well
501c3 grants are a big part of many nonprofits. There are numerous organizations willing to give not-for-profit financing to help you achieve your mission. However, they are very competitive and time-consuming. Also, you should never put all your eggs in one basket.
Your organization might also consider applying for a 501c3 loan from a bank. Then again, banks are notoriously bad at working with nonprofits. They don’t understand your financial structure and insist on tons of collateral. As a result, they will deny your application.
If your organization does at least $100,000 per year in revenue and if you or a board member has a credit score greater than 650, you should really consider setting up a line of credit for your nonprofit organization.
Why a Line of Credit is better than 501c3 Grants for Your Nonprofit
In the past, a line of credit was almost impossible to get in place. This is due to the many restrictions that commercial or local banks require.
Thankfully, alternative lenders came along to fill the void left by banks. Financing Solutions (www.financingsolutionsnow.com) is the first company to recognize that nonprofits really need a LOC. Unlike banks, they also know that many are very capable of paying the line back.
A Line of credit is fast becoming a very valuable tool for nonprofits. It helps to even out cash flow when they know that money is coming in but you have to wait for it. At the same time, you must still manage your bills, like payroll or rent. With a line of credit, you can handle daily operating expenses without sacrificing other areas of your business.
Financing Solutions makes it easy to get fast business funding for your nonprofit. You can begin by answering 10 simple questions online.
Looking to Make Your Nonprofit Stand Out?
There is a lot of competition for nonprofit dollars today. Every time you ask, remember that the person or organization is receiving at least a dozen other requests in addition to yours. To ensure you get your share, it’s important to make your organization stand out from the rest.
Make your fundraising more personal – people give money to organizations they have a connection to. You must make them feel appreciated and welcome and you can’t do that with jargon and legal-speak.
Don’t discount the power of word of mouth – your current donors are your biggest ambassadors. Use them to their best advantage. Ask them for referrals and public endorsements.
Find the right source of nonprofit business financing – turn to Financing Solutions first. With their help, you can worry less about making payroll and focus on growing your nonprofit through nonprofit grants, fundraising, and big donors.
