This question is about not for profit organization vs nonprofit organization.

Can nonprofits borrow and lend money?

By Zippia Team - Dec. 7, 2022

Yes, a nonprofit organization can borrow and lend money. They are set up as a specific type of business and they are eligible under the IRS's rules. However, most nonprofits are considered high-risk endeavors, so it may be difficult to find a bank willing to sign off on them.

Nonprofits can also lend money. Some community credit unions are nonprofit or not-for-profit, and they're able to lend out money. Others work as a way to help entrepreneurs get their business ideas off the ground, and others work to try to help lower-income people avoid predatory loan practices, such as title loans.

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