Lincoln City say they have been given ten weeks by the Co-Op Bank to pay off their £380,000 debt and move their banking elsewhere.
The club have a £300,000 overdraft, which they say is usually up to 90% used, along with a mortgage of £80,000 that the bank wants off their books as they restructure.
The news comes with the club's main shareholder, Lincoln City Holdings (LCH), also having to find another £150,000 to cover losses from last season in the next six weeks. LCH is owed by the club's Directors, and have handed over already the majority of nearly £260,000 of loans made to the club.
One prominent shareholder believes the levels of debt at the club are hindering investment, with a price tag of £1m to clear debts and buy out the current board, and he wants the club to implement a break-even budget with further losses anticipate this season.