A Line of Credit... Just in Case

nonprofit line of credit

Can a Board Member Loan Money to Their Nonprofit

Nonprofit Line of Credit

Nonprofit board members have an important responsibility. 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 is a […]

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How your Nonprofit should be preparing for a recession. Nonprofit MBA Podcast 2.2

On today’s Nonprofit Podcast we will be speaking with Dr Ron Dale Tomkins about how your Nonprofit should be preparing for a recession. Dr. Ron Dale Tomkins is a Certified Management Accountant associated with the Institute of Management Accountants. He holds a Ph.D. in Higher Education Policy (Buffalo), MBA in Finance and Accounting (SUNY Institute), attended Harvard University Strategy and […]

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Nonprofit Line of Credit: How to Responsibly Use Credit

nonprofit line of credit

In your nonprofit, you may be wondering why you’d need a nonprofit line of credit. After all the bad things you’ve heard about debt, you might think you should just steer clear of borrowing.

It’s understandable to have that opinion. Debt can be an albatross around the neck of businesses of all sorts, whether for-profit or non-profit organizations. When used responsibly, though, lines of credit can tremendously enhance the ability of a nonprofit to conduct its operations, adding financial flexibility and improving the resilience of the firm.

But just how should you use credit to unlock these possibilities? How can you avoid the pitfalls that have swallowed up so many companies? Continue reading below to find out how best to use nonprofit lines of credit responsibly.

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The Importance of Donor Retention: Nonprofit MBA Podcast 2.1

Today’s Podcast: The Importance of Donor Retention Hosted by Financing Solutions Stephen Halasnik. Financing Solutions is the leading provider of Lines of Credit to Nonprofits. Today’s Guest Steven Shattuck is the Chief Engagement Officer at Bloomerang, a leader in Donor Management Software. Steven is a prolific writer, and speaker, as it relates to donor retention. […]

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Nonprofit Business Loans

Nonprofit Business Loans

Things have finally changed for nonprofit organizations regarding nonprofit business loans. Business loans used to only be available for for-profit businesses but, over the last few years, some financing companies have really started to “get” nonprofits. In reality, some of the most popular business financing options have always been perfectly suited for nonprofits. This is […]

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Nonprofit Boards: The Executive Director’s Best Friends (No, Really!): Nonprofit MBA Podcast 1.6

Today’s Podcast: Nonprofit Boards: The Executive Director’s Best Friends (No, Really!) Nonprofit Boards: The Executive Director’s Best Friends (No, Really!) Nonprofit boards can and should be the principal source of support (moral and financial) for their organizations. Some, however (though none of yours of course), can be a nuisance or even an impediment to successfully fulfilling […]

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The Newest Strategy in Fundraising for Nonprofits: NonprofitMBA Podcast 1.5

Summary of Podcast Today, what we are going to discuss is The Newest Strategy in Fundraising for Nonprofits. The Nonprofit MBA’s purpose is to provide new business insights and fresh creative ideas for Executive Directors and their teams that will help them improve their organizations. Introduction of Stephen Welcome, everyone. My name is Stephen Halasnik […]

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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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