Grants for Businesses
Business grants are available to help entrepreneurs start or expand their business. There are various types of grants available. Business grants are not loans. Therefore, you won't have to pay back grant money.
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Types
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There are two types of grants available to businesses. A government grant is a financial award from the government. The money normally goes to state and local governments or non-profit organizations. A foundation grant is an award from a private organization.
Misconceptions
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Infomercials that advertise "free money" to businesses from the government in the form of grants are misleading. The government awards billions of dollars in grant money per year. However, there are rarely opportunities for businesses.
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Exceptions
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In order to receive a business grant from the government, there must be a public need for your business. Private foundation grants are open to various types of businesses.
Applying
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You may apply for government grants by visiting Grants.gov. It's the only official site for government grants. Private foundation grants can be found at The Foundation Center (see resources).
Tips
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Applying for a grant is simple, getting the grant is the challenging part. Before you submit your application, spend time proofreading and enhancing your business plan and grant proposal. Or hire a qualified grant writer, if needed.
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