A Line of Credit... Just in Case
Financing for a nonprofit organization is not about making money. You must develop a strategic approach for how you will build capacity, fund all your activities and expenses and achieve your mission and yes, even a nonprofit needs some form of financing sometimes. How can you do all this, while still applying for grants, managing […]
Although leading a nonprofit organization can be challenging and stressful, there are also numerous joys and successes. There are always two sides to every situation. That’s why a nonprofit looking for a grant should also have a line of credit. For any business, experts recommend that you avoid putting all your eggs in one basket. […]
Yes, financing for nonprofits organizations can be hard to come by, but thankfully you do have options. A financial crisis is sometimes like fireworks. Even as they are exploding, they light up the sky. In other words, look closely at your current financial difficulties. You will see that they are shining a light on the […]
The Small Business Association (SBA) has an important role in providing access and opportunity for small businesses. A not for profit is a small business, so it begs the question: Can a nonprofit get SBA loans? Approximately half of the American workforce works for small businesses, including nonprofits. As the backbone of our nation, these […]
To lead a nonprofit, you cannot be reluctant. You must face your fears, such as the fear of rejection and failure, head on. It’s a shame then that banks are reluctant to give a small business loan to a nonprofit organization. Many executive directors are reluctant to discuss the need for fast nonprofit funding. Sure, […]
You should not judge a nonprofit by how it operates when things are good. How a nonprofit handles challenges will tell you whether it can stand the test of time. There are typically three top financial challenges nonprofits face throughout their lifetime. Having the right resources can be the difference between success or failure. They […]
Baseball great Tommy Lasorda said, “Managing is like holding a dove in your hand. Squeeze too tight and you kill it, not hard enough and it flies away.” Managing a nonprofit is similar. Managing a nonprofit is hard and you must learn why the right fast business financing can make all the difference. The Challenges […]