Government Grants 101 - What are free government grants?
You probably already heard of free government money, government grants, federal grants, free government grant, foundation grants or even state grants. But what are they?
Government grants is money provided to non-profits, business and individuals who are looking for financial assistance in order to receive help or do a project. For example a small business could receive a small business grant in order to do research on a new product or get a low interest business loan in order to start a small business. A non-profit could receive a grant to help a category of citizen in needs. While a person could receive an emergency grant to help pay for its roof after a hurricane or an improved heating or cooling systems if the health of its family may be in danger. Naturally there are many types of grant available.
Different kind of government grants
Now you may wonder what kind of help or projects are possible? The range is very large, as long as its sound normal to you there is a very good chance a government grant may exist for your need. Naturally there is no grant for frivolous projects such as going on vacation, a boat, a new car or getting a pool for your house. The best answer is to use your judgment and be realistic. If someone tells you something sound too good to be true it’s probably because there’s no such grant.
Is there such thing as a free government grant? Yes. And there are many of them. Federal grants for example are offered by almost every federal agency, whether it’s for a housing government grant, a small business government grant or federal government education grants. There are also many grants for specific groups and needs. For example there are minority grants for, well, minorities looking for housing, education funding and money to start their business. Women grants for women in needs and women looking to start a business. Student grants for student looking for money to go to college and university.
States very often grant in the form of financial aid for students, low interest loans for small business, tax incentives for business, affordable housing for low income households, health related services for the poor and the elderly.
Foundations also often offer grants and donation to help individuals and communities improve their status. In most cases foundations will offer grant or free money in the form of education money, free housing money or sweat equity or money to help take care of expensive medical treatments.
Always free?
Are government grants always free? No. A government grant can sometimes be free money when you don’t have to repay them. On the other hand some grants (often called indirect grants) need to be repaid in part or totality. These last types are usually grants in the form of assurance or collateral for a mortgage, reduced interest on a small business loan, student loan with low interest, etc.
Where do you start in order to find a grant for you? Start with understanding your need. Is it for housing, a business, education or else? Do a quick search online with relevant keywords such as federal grant for education or government grant for business. Then make sure you visit a government site; otherwise you may simply end up on a company trying to make you pay in order to receive your grant (and also try to promise you anything). You can also naturally verify government grant information on site such as this one. Simply make sure you don’t have to pay, government grant information is free and you don’t have to pay to access it.
Good luck with your search!