Kidderminster Harriers Football Club has appealed to investors in order to find £150,000 the club need before the end of December.
If the club were to find such funds they would then need to find a further £50,000 by the end of January.
Harriers director Mark Serrell told BBC Sport: "We're taking all avenues we possibly can at the moment and are talking to potential investors.
"But I have to say that at this present moment in time it is looking like a very tall order."
The club has appealed to fans and together with the Kidderminster Harriers Independent Supporters Trust (KHIST) is asking fans to donate a minimum of £100, although treasurer Steve Millington conceded there has been little interest.
"We have had a very limited response so far to be honest but that is no more than I would have expected given the time of year," he told BBC Hereford and Worcester.
"We're always hopeful that more people will come forward."
Furthermore, Harriers will face a Conference panel over their Financial Reporting Initiative relating to the 2009-10 season.