Grants are designed to help individuals get the money and finance they need for a project, educational goal or business endeavor. There is a lot of work that goes into getting a grant, but with the right help, tips and methods you can successfully get a government grant for all your needs.
Where to Look
If you want to start a business and need money, there is a chance you can get one through a state run development agency. Many of these agencies provide free government grants for business use. Since there are many small businesses the government is more interested in providing grants to those who need them to operate a small business.
In order to find the agencies that offer everything you need it is best to look through a directory or use the internet. You can look through the CFDA to find fundings for your small business at no charge. After finding several agencies you need then you need to contact them to find out the requirements or documentation that you need in order to apply.
When you ask about a grant you will often get free counseling, training and technical assistance for the business or educational goal you plan to use money for. Remember that when you apply for a grant you are essentially getting a contract with no strings attached. Once you get a government grant you are being contracted by the agency to give them a product or service in exchange for the program budget.
Getting a grant is a better option than a loan since you don’t have to pay back any of the money you get. On the other hand, if you get a loan you will have to start worrying about repayments just a few years after borrowing the money you need.
A Few Helpful Tips
In order to get approved for a government grant you need to have a product, service or education course that fits the objectives of the grantor. This is why getting money for a course; product or service that has a community related goal is easier. You often won’t be able to get a government grant for a program that isn’t listed within the weekly publication: Catalog of Federal Domestic Assistance.
When it comes to getting funds you need to submit a formal application along with all the proper documentation. Making a project proposal is often the most difficult part. This is why grant writing is important and is often the deciding factor in getting approved. Make sure the proposal you submit in order to get a government grant contains all the necessary information about the product or service you are proposing. Make sure your business plan describes exactly how it fits with the objectives in order to increase your chances for getting a government grant.