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RE:
Government Grants
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Who can apply for a government grant?
How much money can I receive from a government grant?
How long does it take to get a grant?
Where can I find out more about grants?
Why are you answering all my questions?
What is a government grant?
A government grant, or as it often referred to as "free money", is money awarded by government appointed agencies
with specific socio-economic objectives. This money aims to improve the economy
and stimulate growth and contribute to the well being of members of the
community.
Who can apply for a government
grant?
The short
answer is: Almost everyone! Any US citizen at least 18 years of age, legal residents, for profit businesses, schools, non-profit
organizations, state governments and agencies, municipalities and their
sub-agencies, also certain non-US non-profits as long as they are 51 % US
owned. There are many more grants from the federal government level awarded to
state governments/agencies & municipalities and their sub-agencies, than
those awarded to any other applicant class. These recipients of the grant
funding are then required to distribute the funds to the other applicant
classes or use it to improve social infrastructure.
How much money can I receive
from a government grant?
The
amount awarded by the government agency depends largely on the project needs
and objectives. Basically, if you can justify the amount you are requesting,
than it is possible to receive that amount, whether its 10 000 (ten thousand),
100 000 (one hundred thousand), 1 000 000 (one million), or several million
dollars. It is important to refer to the agencies’ budget and determine what
conditions or limits (caps) to the funding requests are. Some agencies have a
maximum award amount. It is also possible to combine funding from multiple
agencies.
What is the difference between
government grants and government loans or government assistance programs?
Government
Grant money is money you are not expected to repay. You are expected however,
to spend the funds on the purposes they where awarded for. For example, if you
get a grant to start a small business, you are expected to spend those funds on
your business, buying equipment, paying for licenses, salaries, marketing etc.
You cannot spend grant money on whatever you want, for example, to go on a
shopping spree or a luxury vacation.
A Government sponsored loan is money you will have to repay, but usually with very little interest and over long periods of time. There are many advantages to government sponsored loans versus a traditional bank loan. In essence the government is backing you up, making it easier to be approved and easier to pay back the loan.
There are also other types of government assistance programs, such as tax credits, training, professional services, equipment or salary subsidies and access to government resources.
You may apply for a combination of government grants, loans and assistance programs to help you reach your goals.
Can I be guaranteed a grant?
No one can
guarantee that you will receive a grant. Only the government agency awarding
the funding can make that decision. Your best chance is to pick the best
matching program to your qualifications and project needs and to follow the
necessary steps and submit a properly formatted application including all the
right documentation. Billions of dollars are awarded each year, so you do have
a good chance to receive funding by taking the necessary steps to being
approved.
How long does it take to get a
grant?
It
generally takes 4-6 weeks from the time your application is received from the
government agency to receive a response. Depending on the agency awarding
schedule, you may be approved quickly regardless of the time of year you have
submitted your request. With some agencies, the funds are awarded only once a
year, every 6 months or every 3 months, so if you miss the cycle you will have
to wait until the next one to receive your grant. Your best bet is to be aware
of deadlines and submit your application as soon as possible.
How do I apply?
Each
government grant program has specific application procedures. They usually
include filling out an application, providing a cover letter, and for business
grants, a business plan, proposal or outline. Once you find the right program,
consult the application procedure section to know what you are expected to
include in your application. It is also a good idea to contact the agency and
ask them what they are looking for in an application. To get a free
consultation on your government grant options, you may submit a request and
a qualified advisor will contact you usually within 24-48 hours.
How do I know if I qualify?
The number
one thing to consider in determining whether you qualify for a grant is to know
what the objective of the program is. Do your project/needs/goals match with
the objectives of the granting agency? If the answer is yes, then there may be
a few conditions for applicants to meet in order to qualify such as whether you
are in a hub zone, your income level and your credit history. In order to
determine if you qualify you may submit a request and a qualified advisor
will contact you usually within 24-48 hours to discuss your case.
Where can I find out more
about grants?
There are several government resources online you may refer to for free. We have
listed many of them here. There are many websites on the topic of
government grants. At Free-Government-Grants.Info we pride ourselves in
providing simple and straightforward information and guidance to help you with
your search. If you have a question that is not answered here, don't hesitate
to contact us and we will do our best to be of assistance to you.
Why are you answering all my
questions?
We believe
you should have easy access to information that is clear and easy to understand
and we hope that you will tell your friends and family about our site. We know
how difficult it can be to decipher all the information and bureaucratic jargon
that comes with government agencies and we want to help clarify the process and
demystify the subject of government grants. One day it will be very easy to
research, pick and apply for government grants. Today you have
Free-Government-Grants.Info on your side to help!
To get a free consultation on your government grant options, you may submit a request and a qualified advisor will contact you usually within 24-48 hours.
