Lines of credit for non-profits are useful in an astounding variety of situations. Whether you’re hoping to free up more cash to distribute to the communities you serve or pay your expenses in a month where all of your revenue seems to be coming in late, a good line of credit can meet your needs.
But a line of credit for non-profits can be hard to obtain. Many banks and credit unions won’t even consider extending credit to non-profits. For those that do, most require personal guarantees or collateral.
So how does a non profit go about finding a financing product that works for them? Read on to find out what a credit line can do for your non profit and where to go about finding a lender that will work with you.