Waiting for Your Government Funding for Nonprofits? Get a Line of Credit
Anne Frank said no one needs to wait a single moment before starting to improve the world. Unfortunately, when you run a not for profit organization to help improve the world, it is sometimes necessary to wait for government funding for nonprofits.
For all the goals you want to achieve, there are not enough hours in the day to get them done. That’s why waiting for government funding for nonprofits is so difficult. Therefore, you should get a line of credit, instead.
Disadvantages of Waiting for Your Government Funding for Nonprofits
They say that good things come to those who wait. Indeed, getting a nonprofit grant or loan is like a third-party endorsement for your organization and mission. However, there are dangers, too.
While you are waiting for government funding, you may be unable to start events or find it necessary to cut some programs. Additionally, you can quickly deplete any emergency business cash you were saving.
Who Offers Help When You Are Waiting for Your Government Funding for Nonprofits
All existing non profits know the drill: you paid for your employees and services and fixed costs and then wait to get your funding 30-60 or 90 days later. Financing Solutions now has a line of credit for non profits which allows you to have a cash reserve to turn to until you get your government or other funding.
With a line of credit from Financing Solutions, your nonprofit organization can get $5,000-$150,000 and the line will be available for up to 12 months. To qualify for this not for profit financing, you need to have a yearly revenue of at least $500,000 and the executive director or president must have a credit score of no less than 650. You can get started by visiting https://financingsolutionsnow.com/campaign/creditline/.
Best of all, you only have to repay the funds you actually use. They offer flexible plans so you can pay the money back as early as six days or as late as 26 weeks. This line of credit is very cost effective and represents an ideal way to handle temporary short term business financing needs.
Ways to Reduce Your Dependency on Government Funding for Nonprofits
It’s becoming harder and harder to obtain government funding. More and more organizations are fighting for an ever-shrinking pool of funds and the competition is fierce. There are also numerous application rules and restrictions on how the money can be spent. As a result, it’s beneficial to find other sources of nonprofit funding.
One thing to remember is that you can’t do it all at once. In other words, don’t immediately stop applying for government funding. Diversifying your income stream takes trial and error and time. You can begin by looking towards board members, community foundations and top supporters willing to give time and talent as well as money.
You should also expand your outreach efforts. Don’t spend all your time applying for government grants. Commit to spending at least one day a week looking for other ways to grow your nonprofit. For example, you can investigate social media opportunities or plan a major capital campaign.
Of course, the easiest way to reduce your reliance on government funding is to contact Financing Solutions. They provide the best funding resources for your nonprofit organization.
If your nonprofit would like a line of credit that you can use when cash flow is down please visit www.fscreditline.com/np to learn more, to apply and to receive a written offer. A Line of Credit for your nonprofit costs zero to set up and zero until you use it. This makes it an excellent backup plan.