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1 server - Backup Solution - Cloud or NAS?

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So, I just found out that a business critical server was not apart of the backup solution, because "RAID is enough protection". Well I am trying to find an affordable solution, because to upgrade our Barracuda to the necessary storage requirements would be very expensive. The company is a nonprofit, so funding is hard to come by. 

The server is currently at 500GB of data that needs to be backed up. I would need to do nightly increments. My worst case scenario is a Google Drive upgrade to the 1TB for 9.99. The backup is only going to consist of files and 1 database. Any advice would be greatly appreciated. 


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