Grants For Any Good Purpose - If You Qualify!
Grants are seemingly an easy source of free money for any business, organization, or a deserving individual. However, for the unaware, there are many obstacles, before the grant money enlarge your bank balance...
Grants are again gaining prominence in the publications related to small business financing and entrepreneurship. Not surprisingly, many readers want to know more about the ďgrants moneyĒ matters. After all, from the descriptions given by the journalists, itís as simple as asking for the free grant money, and your bank balance is a few thousand dollars higher. Not bad, for any new or expanding commercial activity, short of liquidity. Hence, the undeniable attraction of the topic of grants.
Letís examine some of the claims made by the well informed media, and construct a true picture about American grants scene. Below is a list of the common beliefs, and the corresponding objective reality.
- Federal government is the only grantor.
Not so; grants can be given by any private person, a business, or an institution. Although, the large majority of grants money comes from the federal and state governments.
- Any person or business can be the grantís recipient.
Yes, providing they have passed the initial target criteria (category of purpose), and are able to comply with all the requirements specified on the grant application form.
- Once you get the grant, you can do whatever you wish with the funds.
Beneficiaries must adhere to strict conditions specified in the grant document, and progressively report on how the funds are being used. This is a subject of regular auditing procedures by the grantís administrator. Any malpractices are heavily penalized.
- Some people or businesses have more luck than the others in securing a grant.
Certain kinds of grants have greater pool of monetary resources allocated to them, hence even with a strong competition, the chances of the application being successful are higher. Senior citizens care, minority and women grants are good examples. In general, federal and state governments, through issuing grants, promote their social policies, intended for the better good of all American citizens.
- Anybody can write grant application papers.
Yes, but they will most probably be unsuccessful. Grant proposal writing is a highly specialized area, requiring detailed knowledge of the financial and legal regulations.
You can find helpful tips at our website: www.new-grants.com
This is best left to professionals, who not only can prepare a convincing application, but later are able to competently administer the grant.
- Small business grants are waiting, and can be allocated to the applicant almost immediately after the lodgment of the required forms.
Incorrect. After all formalities connected to the grant application are fulfilled, the allocation process starts; and it may take up to 12 months, or longer, to receive the funds.Hopefully, itís obvious by now, that regardless of the kind of your legal entity, the process of applying and receiving a grant is quite protracted, with many formal challenges. Consequently, any serious applicant should seek qualified help right from the outset. Yes, itís much better to be told at the beginning, that your chances are remote; than after using valuable resources, be told that youíve failed to satisfy grant conditions. Itís the case where free money doesnít come cheapÖ
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ABOUT THE AUTHOR
As a grant recipient, Sam Ness firmly believes that small business grants have an important role to play, in the American commercial reality. Visit his site New Grants for more detailed information.