Small businesses, researchers, educational institutions, and other organizations may need financial support from time to find for their projects. Unknown to many, there are grants provided by different government agencies to those who qualify.
If you think you’ll need funding from the government for your small business, here are the answers to commonly asked questions about grants:
What is a government grant?
A grant from the government is a financial assistance extended to universities, non-profit organizations, researchers, law enforcement, state and local governments, and other organizations to boost the economy and to improve public services.
There are thousands of grant programs from the government. Grants come in various types, such as fish and wildlife service grants and emergency communications grants.
Is it free money?
No. Government agencies don’t provide grants for personal funding, paying off debt, or starting a business. Instead, loans are provided for these purposes. There are also alternative funding sources from the government for people who are looking to finance their business, such as the small business investment company program and business assistance offered in your state.
How to apply for a grant?
Know first if your organization is eligible for a grant. Check the requirements for eligibility on the official website of the government agency who will provide the grant. When you confirm that you’re eligible, you need to write a grant proposal and submit it to the government agency.
Are people in R&D eligible for a government grant?
Yes. Under the Small Business Innovation Research Program, small businesses that are involved in scientific research and development can receive a grant as long as they’re able to prove that they’re qualified for it.
Do you have other questions related to government grants? Want to know if you’re eligible for one? Feel free to comment or send a private email to firstname.lastname@example.org.