Kidderminster Harriers director Mark Serrell has admitted the club could face liquidation but insists it would only be as a last resort.
The Blue Square Bet Premier promotion chasers have to find £150,000 by the end of the month.
"We're taking all avenues we possibly can at the moment and are talking to potential investors," Serrell said.
"But I have to say that at this present moment in time it is looking like a very tall order."
Even if Harriers do manage to raise the £150,000 needed by the turn of the year they would then need to raise a further £50,000 by the end of January.
If there is anybody out there who is prepared to help the football club please contact us now
Kidderminster Harriers director Mark Serrell
The board is working closely with the Kidderminster Harriers Independent Supporters Trust (KHIST), who are appealing to fans to donate a minimum of £100 each in an effort to secure the club's future.
Their treasurer is Steve Millington and he admits the wider economic situation and the timing of the appeal are both working against them.
"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.
"But we really need those people who have got £1,000 to £5,000 to spare to put into the pot to come and join us otherwise we are going to be a long way short."
Harriers problems have been further compounded by an appearance in front of the Football Conference on charges relating to the Financial Reporting Initiative.
The allegations refer to the period covering the entire 2009-10 season and if proven Harriers could expect a possible points deduction or fine.
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