How to Qualify for Free Government Grant Money
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Are your finances in bad shape recently? Perhaps you need to pay off some debts quickly. Or perhaps you want to start a new business to bring in some extra income for your family. Whatever your reason is, one great way to raise money is to look at how to qualify for government grant money.
The greatest thing about government grant money is that it is freely available. It is not a loan, so you don’t have to worry about your debt piling up. The grants are there to help you achieve your financial goals.
Of course, government grants are not for everyone. There are special qualification criteria that you must fulfill. The criteria differs, depending on the type of grant that you are applying for. Here are some tips on how to qualify for free government grant money.
1. Read the grant qualification criteria carefully.
Grants are sometimes rejected because the you may be applying for the wrong type of grant. Each grant specifies the qualification criteria clearly on the application form. If you find that you don’t fulfill some of the criteria, it probably means that the grant is not for you. Submit the application only when you are sure that you are applying for a grant that is meant for you – and that means making sure that you fulfill all the qualification criteria before submitting your application form.
2. Write with your best handwriting.
Legibility counts when it comes to applying for government grants. After all, your application will ultimately be processed by a human being. So your handwriting will have to be as neat as possible. This is to ensure that no important information is missed out. When you write in your best handwriting, you are helping the person at the other end by making their job easier. That will increase your chances for getting the grant approved.
3. Re-check all the information before submission.
You may qualify for the grant, and you can almost see the money in your mind. You submitted the application, and you are confident that you will receive a favorable response soon. However, you wait for weeks with no reply. So you call up the relevant party, and enquire about your application, only to find that the application has already been approved but the communications had been sent to the wrong address!
This is just one possible scenario. What do you think will happen if you fill in erroneous information about your income? That will get your application rejected. So be sure to re-check your application before submission.
4. Share relevant information about why you need the grant.
Finally, before applying for any grant, bear in mind that grants are there to help needy people. So they are processed based on needs, not wants. Therefore, be prepared to share as much information as you can on why you need the grant. You will have a much higher chance of getting the grant approved.
Gen Wright
http://www.articlesbase.com/credit-articles/how-to-qualify-for-free-government-grant-money-716503.html
3 Comments
February 26th, 2010 at 8:17 am
How to Qualify, Who to Contact, and What to Say to Get Free Grant Money…??
BUISNESS Grants/Loans Government ??
February 26th, 2010 at 1:19 pm
To see what’s available and how to qualify for federal grants, go to …
http://sbirworld.com
Some cities also have business grants. Check at the city offices (information desk) for details. States almost never do grants.
There are some Foundations that offer grants, but you’ll need to check with each on individually. Here’s a list …
http://www.foundations.org/grantmakers.html
References :
February 26th, 2010 at 1:21 pm
You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing
It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK – lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html
"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs
I suggest you read the following books to get ideas of how to finance your business:
Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron’s Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid
For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online http://gtionline.fdncenter.org . It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.
References :
http://www.cfda.gov
http://www.grants.gov
http://gtionline.fdncenter.org
http://www.powerhomebiz.com/vol66/grants.htm
http://www.sba.gov/expanding/grants.html