When you run a not for profit business, you may often have to find creative ways to stretch your dollars. This might include asking for donations, encouraging volunteerism and seeking alternative funding sources. One option you may not have realized is that payroll financing can be used instead of not for profit 501c3 grants.
Not for profit businesses have many hurdles to overcome. Perhaps the biggest is the misconception that, as a nonprofit, you don’t need fast business funding to improve and grow. Instead of always turning to not for profit 501c3 grants, you may want to give payroll financing a try.
Why Payroll Financing May be Better than Not for Profit 501c3 Grants
Government grants provide an excellent way for nonprofits to get money they need to help the community and fulfill their mission. Nonetheless, not for profit 501c3 grants are not always the best answer for your funding woes.
Although you don’t need to repay the funds, you do have to provide detailed information on how the dollars will be used. Also, you are competing with thousands of other businesses for the same supply of funding, which can change from year to year.
There is also the time and considerable expense of applying for these grants each year. Grant writers and researchers are needed and proposals must be perfect in order for you to receive funding.
Financing Solutions (www.fundmypayroll.com) offers a better option. They can provide the cash you need fast, usually in less than one week.
The application process is easy and you can get started with just a 15 minute phone call. Best of all, there is no long term commitment. You can repay this quick business financing as soon as your grant money comes in and your cash flow is more stable.
How Can Payroll Financing Be Used
One of the biggest obstacles for nonprofits is often receiving government funding on time. When this money is late, it can create chaos and leave you unable to pay your loyal employees. Financing Solutions helps established not for profits make payroll when checks are delayed.
It is important to note that payroll financing is not just for payroll. This short term business financing can also be used for other expenses, such as purchasing supplies, paying rent and managing repairs. Think of it as a little extra cash for when you need it.
Tips to Grow Your Not for Profit Business
No matter what kind of business you run, you still need to grow and improve. This task can sometimes be more difficult for nonprofits, but there are numerous steps you can take to keep your business relevant and successful.
One thing you can do is to make use of social media for outreach and engagement. Studies have shown that if you want to connect with people today, social media is where they all are. You can use it to share news, publish testimonials and encourage followers to help spread your messages.
You can also make maximum use of your website and newsletters. They must be eye-catching, timely and updated regularly. Each should include a strong, compelling call to action.
The best way to grow your nonprofit business is to contact Financing Solutions. They can help you get the cash now that your business needs to prosper and thrive.