A federal grant is an award of financial assistance provided to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Federal grants are not given to individuals. The federal grants should not be used to acquire property or services of the federal government’s direct benefit. Small business grants are awarded to companies that meet the size standard of the U.S. Small Business Administration (SBA) for most industries in the economy.
Public Housing Organizations such as Public Housing Authorities and Indian Housing Authorities are eligible to apply for government grants. All federal agencies and many state and local governments follow the size standards established by SBA to avail the grants. Free grants are given by local governments to purchase a house or for home improvements like repairs etc. This grant money need not have to be repaid. There are also Government Housing Grants, Down Payment Grants, Low Interest and No interest loans are available in the real estate sector.
Federal grants are given to start own businesses as well as to expand the existing businesses. More than 10, 00,000 entrepreneurs will get the federal grant assistance to start and expend their businesses. Over 40, 00,000 people will get the grants to invest in real estate business. In addition to the grants, free management advice is also offered on almost every business.
None of the government grants require a credit check, collateral or security deposits or co-signers. Even if the applicant is a bankrupt or bad credit history, they become eligible for getting the grants as this is free money and never to be repaid.
It is much easier to find out the grant possibilities for a non-profit business than for a for-profit business. The federal government gives grants only for non-commercial organizations and educational institutions so that it benefits the community at large. Grants are available for a small number of commercial businesses that meet the criteria of public interest. Some grants are made available depending upon the types of businesses and focusing on the location of the businesses.
The application for grants will not get approved unless it is accompanied along with a detailed business plan. The applications are to be submitted well before the deadlines without rushing in the eleventh hour. They will have to prepare a clear expenses budget and submit to the grants organization so as to establish that the business grants are being fully utilized by them for that particular business. By providing the complete details and definitions of the future business prospects, they should impress the grant reviewer about the proper use of the grants.
An individual should submit the grant application only on his behalf and should not associate himself with any organization, institution or government. While submitting the application, the individual should attach the associated certifications and assurances which are necessary for fulfilling the requirements of the application process. The individual should apply for the grants that are open for the individuals only and should not apply under the organization categories.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Apart from the Government, there are several foundations that liberally offer grants for several purposes. Visit this Grant Foundation Guide to know how to avail of free grants from private foundations. Also, check out the Education Grants Guide to find the best sources for all types of education grants.
Find More Government Real Estate Grants Articles