SC Capital Access

Grants

 

A Government Grant is "a financial award given by the federal, state or local government to an eligible grantee. Government grants are not expected to be repaid by the recipient. Grants do not include technical assistance or other forms of financial assistance such as a loan or loan guarantee, an interest rate subsidy, direct appropriation or revenue sharing. There is typically a lengthy application process to quality and be approved for a government grant. Most recipients are required to provide periodic reports on their grant project's progress."

 

The federal government provides grants for a wide range of projects and businesses that serve public groups. Over 26 federal agencies administer more than 1,000 grant programs annually to provide funding for the arts, educational institutions, agricultural projects and much more. 

 

 

 

The Breakdown

 

Summary:

Grants are provided by the government and funded by taxpayer dollars. For this reason, eligibility for receiving these grants is often based on local, state, and national needs for certain businesses. These are a great option if your business falls within one of the categories that the government is looking to support through grant money. The funding is awarded following an extensive application process.

 

Pros:

• do not have to be paid back

Cons:

• limited availability

• very stringent regulations on who can receive them

 

Click Here to See Who Qualifies