Personal Finance

How to get grants

Grants are really blessings for most of the people – grants come handy for those who wish to begin a small business, or expand your existing business, or are in need of some cash. Every business starts with a dream or an idea and to turn on your dream into a reality or to implement the idea you need finance. A grant helps the business idea and turns your dream of an entrepreneur in to reality. Also, it is interesting that nowadays you can even apply for grants even if you have a bankruptcy bad credit.

If you want to begin a small business or to expand your existing business you can easily get grants. That is the Federal government has provided grants to assists small business owners and those who want to start their own business change their lives and achieve financial independence.

Every year in the United States about $360 billion is provided as grant funds for businesses, individuals, and non-profit organizations. This is the real thing, money which is authentically provided from solid, dependable funding organizations. Generally, most of the grants are offered by government agencies, corporations, and foundations. One of the major advantages of grants is that they need not to be repaid, and that all grants are free from tax.

If one needs to profit from grants, it is a better idea to spend some time and effort to understand how this parallel economy works, and how to play by its rules. Let us look at this in detail.

The very first point one must know is that grants are all about purpose. All grants are offered and awarded so as to achieve a particular purpose. All funding agency, which provide grants, would have a mission they need to carry out and all grants are offered in order to accomplish that mission. Therefore, if you wish to begin a children’s orchestra in your town, you have to check out the funding agency (or someone) which provides musical programs for children as part of their mission.

The second point is that, there are lots of resources for identifying and finding grants. It is better from your part to know the different types of grants available today, who are providing them, and how to locate these agencies or foundations. It is vital for you to tailor your project to potential fund providers.

The next step is to make a grant proposal – that is an ideal format for requesting grants. Even though there are various types of grants available today, you can adopt the basic grant proposal format for all of them. To achieve success, you must know how to write a good grant proposal, and include all the details of your project in the proposal form which a fund provider may want to look through.

There are certain government grants which are offered to some established businesses, and a very limited number of grants to begin new businesses. Most of the grants provided for college students are to support research and study projects and to pay for their medical care and drugs. Some grants are offered for women and for minorities – grants to purchase homes, grants to produce new products, and grants to obtain and restore rental properties.

Some grants are provided to fund a virtually unlimited number of community projects. If you hold a project which has some social value, then there will be some one who is ready to offer a grant for which you can apply.