2019 – 09/11 – Nonprofits can borrow, but finding a lender may be tough

Borrowing isn’t just for businesses. Many not-for-profits borrow money for major capital purchases, new program funding and even to manage current cash flow. But if you’re hoping to borrow, know that it can be hard to find a lender. The odds of qualifying are better if your organization already has a relationship with the lender, such as the bank where you hold a checking account. Your reason for applying also plays a part in the decision. Because banks don’t always want to lend to nonprofits, consider government bonds, community foundation lending programs and your own board members. Contact us for help.

attachment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s