Employer grants

Free money. Yes, you heard correctly, we said free money.

Sounds too good to be true, doesn’t it?

Today, we’re talking about grants. Receiving a grant is a lot like getting free money to start your business, but here’s the rub — they’re not easy to land.

Don’t let that deter you. If you like the idea of getting free money to start your business, then keep reading as we explain what you can do to improve your chances of getting a small business grant.

In this post we’re learning about who can qualify for a grant, how to prepare and apply for a grant, exploring the different factors that can increase your odds of successfully getting a grant, and sharing a list of small business grants worthy of consideration.

Small Business Grants

What is a small business grant?

We referred to grants as free money, here’s why: Unlike a traditional small business loan, you don’t have to pay back a grant. A grant doesn’t come with monthly payments and APRs — it’s money freely given to you for your business and startup costs.

Yet, that doesn’t mean you can use the funds however you’d like. Grants are awarded for specific purposes, so if  Employer grants you receive a grant to cover marketing and advertising costs, that money can’t be used toward payroll, products, your next vacation, or for anything other than it’s intended and stated purpose.

If you use grant money inappropriately you’ll likely have to pay it back, and what’s worse, you could face legal issues and be guilty of fraud.

The agency that awards the grant will provide instructions on accounting and reporting, and you must meet these guidelines and report on your progress and use of funds.