Who doesn’t like free money? That’s what a small business grant is, right?
Grants are “free” because they do not require repayment, nonetheless, they are not handouts.
Not only do you have to make sure your business type is appropriate for the grant. You also have to make sure your financials picture meets the grant guidelines.
Also, be ready to sell your vision because grants are limited. You don’t have to have a ton of money to paint a better pretty picture, just make sure you have the support of a projective financial picture to match.
Sign up for an accounting software like Bench or reach out to an accountant on Fiverr and let them know you are applying for a grant and need help with a financial projection. Don’t worry if you are a start up, there are ways to create a financial projection for start ups as well. Also, some grant applications don’t require this, they just have a list of eligibility requirements and a fee for submission (or not). Then it’s up to you to showcase your vision from there.
Small Business Grants application process can be highly competitive, bearing in mind that you’re not the only one seeking funds but there are other grant seekers from across the nation vying to apply for a grant and obtain it successfully.
Therefore, prepare yourself well, do more research and gather information before applying for a grant.
Before beginning the application process, you make sure you or your organization is eligible to apply for the grant. There are two keys to eligibility:
First, Registering to apply through Grants.gov
Second, understanding legal eligibility per the funding opportunity.
You should review the eligibility criteria in The Grant Eligibility section of grants.gov.
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