Anthony Hampson has come to an agreement with bankers
Cash-strapped Worcester City have been given a reprieve by their bank, but need to raise money immediately.
The club will hold a meeting of directors, supporters and manager Richard Dryden on 30 December to look at ways of raising funds.
The bank have not agreed to extend the club's �50,000 overdraft, but have given them breathing space until the end of January.
Director John Prescott will resign and stand down as bar manager.
The club will also be closing the Social Club at St. Georges Lane, which has been losing money, in order to get it refurbished.
Chairman Anthony Hampson says it is vital the bank see them trying to raise some money.
"The bank have agreed to back us as long as they see we are doing something positive," he said.
"They have had so many promises in the past from the management, but they have not seen any action in terms of fund-raising."
Worcester go to Newport County on Boxing Day, and play the return game on New Year's Day. You can hear coverage of both games on BBC Hereford and Worcester.
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