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The "Skinny" on Federal Business Grants
Federal business grants are given all the time. Federal grants are given every year for just about every reason
that you can imagine. Grants are given for small business start-ups, preserving historic monuments, continuing
education, and art. These are not the only grants that are offered, but you get the idea. For every million grants
that are applied for each year only a few hundred are actually granted. Some of them are free grants, which mean
that if you receive one of them, you don’t have to pay for it. Other grants are more like loans and require
repayment with interest.
Federal grants and government grants are funded in one of two ways: the money comes from the taxes we pay as well
as from private foundations that must give five percent of their assets to maintain their tax-exempt status. If you
are a US citizen, and are 18 years or older, you have a right to many of these federal grants. Government grants
don’t require credit checks or collateral to receive and they don’t ever have to be paid back. Let me begin by
saying that very, very few government grant programs actually provide funding for private businesses.
There are other grant programs you can apply for in this circumstance such The Ford Foundation and apply under
their Other Program Related Investments option which is only for those projects that will advance the cause of
philanthropy. They state plainly that " Most Foundation grants to individuals are awarded either through publicly
announced competitions or on the basis of nominations from universities and other nonprofit institutions. In all
cases, recipients are selected on the merits of their proposals and on their potential contribution to advancing
the Foundation's program objectives." If you are to continue seeking foundation grants, then the term you need to
look for is "Other Program Related Investments."
The federal government will and is obligated to provide certain amount of funding every year. You are of course
going to have to provide a detailed proposal request and business plan. The best part is that you don’t have to
have stellar credit or perfect history in order to apply and be accepted. The federal business grants are a great
way to build up your business without all of the pressures that getting a loan can give. Especially since you don’t
have to pay the money back and worry about the interest adding up.
You can use your federal business for things like equipment, start up costs, supplies, and more. Just about
anything that you would use for a business, including marketing can be done with this money. The more detailed your
proposal is the better your chances get of being approved. As long as you mind your P’s and Q’s you should be
fine.
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