Sterling Financial Creates Recurring Rewards Program To Provide Fundraising For Non-Profit Organizations

Fundraising News
Wednesday, 17 March 2004 | PR WEB

Sterling Financial Management, a Jacksonville, Florida-based company that provides loan reduction services for personal and business loans, has created a spin-off to help non-profits raise funds for operational expenses or capital development.

Sterling Financial Management, a Jacksonville, Florida based company that provides loan reduction services for personal and business loans, has established a spin-off program, called Recurring Rewards™, to help non-profit organizations raise funds for operational expenses or capital development.

Sterling Financial provides a software program that allows individuals and companies with interest-bearing loans, such as mortgages, car loans or business loans, to pay offer their debt early. The program can save the borrower thousands of dollars in interest payments and accelerate their equity.

Company president Rick Berryman and his partner Walter Key, who are both active in community affairs throughout the city, developed a way non-profits could make money from their business venture.

"Experience has shown that fundraising is a critical but time-consuming necessity for non-profits," Berryman said. "There is a considerable amount of energy for non-profits to conduct dinners, auctions and galas. Then there is the problem of consignment fundraisers dealing with candy or cookies. And some fundraisers are limited to holiday events.

"Our program is simple. It can be conducted anytime of the year. There's no investment costs. And one sale will generate a monthly income for the next five years."

Berryman explained that his company will pay one dollar per month for five years (as long as the borrower stays on the program) for each individual or company referred by that non-profit. "One dollar may not sound like a lot of money, but if an organization were to obtain a one-time total of 500 referrals (even if its their own employees or volunteers), the non-profit would receive a monthly income of $500 for a total of $30,000 over five years – with no additional fundraising effort."

Berryman says it's a win-win situation for the non-profits and their sign-ups. "The person signing up will save a large amount of money and build equity with no out-of-pocket expense. And the non-profit can be as aggressive as they want generating 'recurring' dollars with no expense on their part, aside from an $85 electronic coding fee.

"I believe our Recurring Rewards program is so different from the standard ways non-profits raise funds, that this may even change the thinking for non-profits searching for additional funding," Berryman predicted.

More information on the Recurring Rewards program is available on Sterling Financial's website at SaveInterestToday.com.

 

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