What is grant?

A sum of money given by an organization like a government and private organization, to the one who needs like a nonprofits entity, educational Institution, business or an individual for some specific purpose.

According to Grant.gov, USA

Grants are not benefits or entitlements. A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Federal grants are not federal assistance or loans to individuals. A Federal grant may not used to acquire property or services for the federal government's direct benefit.

There are 26 federal agencies offer over 1000 grant programs in various grant's categories.

If you have specific project. You would start Grant Writing i.e Application process, others like if you are as victims of Natural Disasters, you can get too, and such individuals such as people who wants to open a small business.

Small Grants Programme (SGP), globally located in 122 countries in funded by Global Environment Facility (GEF) executed by United Nation Development Program (UNDP). In India, it is hosted by Ministry of Environment & Forest (MoEF). SGP gives global benefits to their lives in local communities. In India, Grants are channelled to Community based organizations (CBOs) and non-government organizations (NGOs). GEF's mission is the protection of the global environment like biodiversity loss, degradation of international waters, persistent organic pollutants (POPs), land degradation, ozone depletion, and climate change. GEF is the trust fund that operates with participation with agencies (UNDP, UNEP and the World Bank).

In US, Grants called Federal Grants, an award of financial assistance from a federal agency by a law of the United States. It is also be issued by private agencies as foundations, not-for-profit corporation or charitable trusts which are called charities.

In UK, Grants are given for variety of business, charitable and research purposes. Google is contributing to the grant process through is Google Grants Programme, where any charitable organization can benefit financially from free Adwords advertising if they share Google's social responsibility outcomes.

Why Grants

It is usually be given for a specific project which is new one not already begun.

Grants Duration

Grants are usually between one and three years.

Categories of Grant

There are 21 categories in which 26 federal agencies provide more than 1,000 grant programs. Categories are as follow:

Agriculture, Arts, Business and commerce, Transportation, Social Services and Income Security, Science and Technology, Disaster Prevention and Relief, Community Development, Education, Energy, Employment, Labor and Training, Health, Food and Nutrition, Environment Quality, Housing, Humanities, Information and Statistics, Law, Justice and Legal Services, Natural Resources, Recovery Act, Regional Development.

Basic Requirement of applying grant

* A thesis statement defining your mission or objectives.

* Specific aims measurable program outcomes, their awarded funds will be used for that.

* Research synopsis

* Bio sketch

* Budget

All grants applications needs similar requirements in some form or another.

At the end

Government does not provide personal finance help. Do not believe the scam. You should verify before applying any grants.

I will come soon with some more articles on the same.

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