what are grants?

It's Raining Money!

Business grants are awards usually in the form of money, but also includes prizes such as technology, advertisements, products, etc., given by one organization (usually a foundation or fund, companies, or the government).

There are three main types of grants: conditional, unconditional, and project grant.

Conditional grants are grants that come with some sort of condition outlined in the terms such as Progressives 25K commercial vehicle grant. Although you receive 25K, there are requirements following award receival such as providing documentation of purchase.

Unconditional Grants are grants that you can use for a wide range of things, inventory, marketing, you name it, no strings attached. Check out this private grant that's an unconditional grant. https://www.nase.org/become-a-member/member-benefits/business-resources/growth-grants

Project grants, mostly government funded are similar to conditional grants but a bit more intricate. May be outlined in the terms the percentage of how much is supposed to be allocated to where. This may include a timeline of what work is to be completed by when, business reports, and more.

Grants are competitive and they ARE NOT guaranteed.

AVOID BEING SCAMMED BY FRAUDSTERS

Here are some tips to avoid being scammed

Organizations and foundations supplying grants are public information so always research if they are in active standing before proceeding with the application process

Organizations won't solicit personal information through text message or through direct message on social media

MOST grants are free to apply, however, there are private grants that require a membership or an application "fee/donation". The application fees are typically low in cost ranging between $1 - $25

Grants are not guaranteed so beware of scammers guaranteeing free money in exchange for a "small fee"

Grant applications should NEVER ask for your bank account information prior to grant award notification

Grants NEVER have to be paid back, if so, that is a LOAN

what are grants?

It's Raining Money!

a quick guide to small business grants

AVOID BEING SCAMMED BY FRAUDSTERS

Here are some tips to avoid being scammed

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