Are Grants Free Money?

On a daily basis, the team at GrantWatch reports that they receive at least one call asking if there is free money available for personal use. One of the biggest misconceptions about grants is that it’s free money available for personal use. This is neither completely true nor completely false.

In actual fact, grants are free money which can be utilized in a variety of ways so long as any and all laws, and contract terms & conditions are adhered to, after you are awarded a grant. They mostly apply to nonprofit organizations but can also qualify for businesses and individuals who fall under the guidelines set forth by the funding entity of the grant.

So how are you awarded a grant? Each grant provider has it’s own eligibility criteria which needs to be met before you submit an application. The application varies for each grant, and needs to be in depth and thorough, usually taking an average of 6 weeks to write. This is why many people decide to hire a grant writer. After you submit your application, it can take months to process, and there is no guarantee you will be awarded the grant.

It is free to apply for grants. They do however, take a lot of time and effort in order to have the necessary requirements met. If you want to have a chance at this “Free Money” as many have referred to it as, I’d advice looking into some of these resources. Hopefully we were able to help you understand that grants are actually free money which can be utilized in a variety of ways.