A Line of Credit... Just in Case

nonprofit financing

How Are Nonprofits Using Their Line of Credit

How Do Nonprofits Use Their Line of Credit Mostly used for payroll #1 reason: funding is delayed and you have to make payroll Your employees count on each paycheck Illegal to miss payroll You risk fines You risk an audit Your risk employees leaving Line used for unexpected expenses Line is inexpensive Not fun asking […]

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Where to Get Business Loans for Nonprofit Organizations

Article summary: Many people think there is no need for business loans for nonprofit organizations. On the contrary, nonprofits have revenue, payroll and expenses just like for profit businesses. However, commercial banks are no longer your only source for this type of funding. It’s important to know where to go, what terms you can expect, […]

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What is a Nonprofit Line of Credit Being Used For Video

Summary: Financing Solutions shares the top 4 reasons how a nonprofit line of credit is used.  Nonprofits use their Line of Credit typically to make payroll when there is a delay in reimbursement funding, when there is an emergency that has to be addressed, to start a new program early when the nonprofit knows that […]

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Can a Board Member Loan Money to Their Nonprofit

Nonprofit Line of Credit

There is a ton of pressure on board members. Your organization expects you to oversee its activities, maintain adherence to bylaws and keep track of the financial condition. But should the same board member loan money to their nonprofit organization as well? As a board member, you want your nonprofit to succeed. Therefore, when there […]

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Nonprofit Financing is Behind For Profit Businesses

If you fall behind in the race to success, the only answer is to run faster. However, no matter how hard you run, your nonprofit financing will always lag behind for profit businesses. The mindset many people still harbor about nonprofits can hold you back. They often believe there should be no overhead and no […]

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If Your Nonprofit Files a 990 You Can Get a Line of Credit

Understanding When and How Your Nonprofit Files a 990

Many people believe nonprofits have it easy. A volunteer workforce, government funding and not having to pay taxes seems like a dream come true. The truth, of course, is that you do have to pay your employees, funding is scarce and it’s necessary that your nonprofit files a 990 with the IRS. While there are […]

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How Fast Can a Nonprofit 501C3 Get an Emergency Business Loan

Where Can a Nonprofit 501C3 Get an Emergency Business Loan Fast

It seems as if our lives are dictated by time and money. For example, you may need to know how fast a nonprofit 501c3 can get an emergency business loan. In the not for profit business, things move fast. If you don’t keep up, you will miss out on key opportunities for expansion and growth. […]

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Why Nonprofit 501C3 Businesses Have a Hard Time Getting a Bank Loan

What Can Nonprofit 501C3 Businesses Expect from a Bank?

No one ever said life would be easy but you probably weren’t expecting it to be quite this hard. The same can be said for the nonprofit business world. Starting your business was surely not simple but you didn’t know that nonprofit 501c3 businesses would have such a hard time getting a bank loan. As […]

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Small Business Loans for Nonprofits

Who Offers Small Business Loans for Nonprofits

In the nonprofit world, your business survives because of what you get but is defined by what you give. Consequently, in order for your business to keep giving, you may need to get small business loans for nonprofits. Anne Frank said, “Nobody need wait a single moment before starting to improve the world.” Unfortunately, you […]

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