How to Get Lines of Credit While Waiting for Grants to be Reimbursed with Stephen Halasnik

This episode, Stephen Halasnik explains the financing landscape for nonprofits and the different ways nonprofits can raise money.

Stephen Halasnik is the Cofounder and Managing Partner of Financing Solutions and has over 25 years of business experience dealing with banks. 

Stephen explains the different ways new nonprofits can raise money, the downsides of nonprofits getting a line of credit, and why nonprofits should avoid using credit cards for a line of credit. 

He also talks about what banks look for in nonprofits, how much revenue a nonprofit should be making, and the different types of people you want on a nonprofit’s board. 

What you’ll learn in this episode:

• The financing landscape for nonprofits. 
• Different ways new nonprofits can raise money. 
• The difference between nonprofits getting a line of credit and a loan. 
• What the terms ‘secure’ and ‘unsecured’ means for nonprofits. 
• What it means to be the personal guarantee for a nonprofit. 
• The downsides of nonprofits getting a line of credit. 
• The risk of a nonprofit using a credit card for a line of credit. 
• How much revenue a nonprofit should be making. 
• The type of people you want on a nonprofit’s board. 
• How nonprofits can avoid feeling overwhelmed.