Government Money, Grants, Loans, & Subsidies
Every Year billions of dollars are given away to entrepreneurs, organizations, home buyers, investors, and other individuals to fund their projects: Grants, loans, scholarships, fellowships, medical care, educational assistance, job training programs, subsidies, small business grants- and the list could go on and on. But you get the idea. Of Course, finding government money can be a very difficult task, unless you know where to look and how to apply.
Seven Great Ways to use Government Money:
1)Buy a New Home
2)Renovate Your Current Home
3)Buy and/or renovate income producing rental properties
4)Get a college education
5)Develop an invention
6)Start a business
7)Research and development of an idea
Five Types of Government Programs
Generally there are five types of government programs. They are
Free Money
Direct Loans
Interest Subsidies On Loans
Matching Funds
Industrial Revenue Bonds/Economic Development Bonds
Free Money
This is money that you never pay back! These funds are given to you to use for the purpose for which you applied. Free money is not a loan. This is grant money that is given to you to solve the governments problems. Free money is the kind that everybody wants. How about You?
Direct Loans
Direct loans can have an interest rate of zero percent! Zero Percent is the best but some loans have a higher interest rate- all the way up to three percent. If you got a 3% loan would you be happy? Loans with low interest rate of 0% to 3% are normally made to entrepreneurs, homeowners, and developers. These loans must be paid back- that is why they are called loans. But with rates this low, they are still good.
Interest Subsidies on Loans
Many States will help pay the interest on the loans you obtain from your local lendor. You pay a fraction of the interest and the state picks up the rest. Interest subsidies can be very lucrative when a federal program seems out of reach.
Matching Funds
This is a program where the government matches a percentage of every dollar you put into a project. Something like a grant, these monies are not paid back.
Industrial Revenue Bonds
Your state or city may be willing to use their bond money to fund your project. This will be most likely if your project involves creating jobs or provides services for low income and elderly persons. Normally bond money is a very low interest loan.
Money At Different Levels of Government.
Besides the federal level of government, there are money programs available through state, city/town and county/parish governments as well. Don't forget the local agencies in our area. Millions of dollars are handed out every year at the local level of government.
Some of the programs available are:
Money for Agriculture and Rural Housing
Technical Development Loans/ Loans to Inventors
Loans and Grants to women and Minorities
Small Business Administration (SBA Loans)
Great Local Programs
Community Development Block Grant
Urban Homesteading
Subsidized Rent Payments
Rehabilitation Grants and Matching Funds
AIDS Assistance Grants
Child Care Prograns
More grant and loan programs:
Juvenile Deliquency Programs
Promotions of the Arts
Procurement and Technical Assistance for Business
Minority Business Development Centers
Small Business Innovation
Research Grants
Nursing School Scholars
Now you ask WHERE DO I FIND THESE GRANTS?
HERE:
Top Twenty Best Sources of Government Money
Department of Agriculture
Department of Commerce
Department of Defense
Department of Health and Human Services
Small Business Administration
Department of Housing and Urban Development
Department of the Interior
Department of State
Department of Justice
Department of Transportation
National Sciences Foundation
National Foundation for the Arts and Humanities
Department of Veterans Affairs
Environmental Protection Agencies
Department of Energy
Department of Education
Small Business Investment Corporations (SBIC)
State Housing Finance Agencies
Local Community Development Agencies
How to apply for Government Money
Now you know who is giving the money and where to apply. The next thing is to consider is the proposal.
Do some research
Before you apply for government money, call and talk to the agency from which you want the money. Find out what they look for in a proposal. How can you find out what they look for? Ask!!!
The most powerful tool available to you is your brain. Ask them what they look for in a grant, subsidy, or loan proposal. Each program is design to solve a problem or provide a needed service. Seek the program's goal. Then show them in your proposal how you can achieve the programs goal.
Think About why you need the money.
When you write a proposal you are putting your thoughts on paper. The proposal should reflect who you are, and what you want the funds for. You have to convince the funding source that you are worthy of their money and trust.
You are competing with others. Ask yourself these questions:
What difference will your project make in the community?
Why should your project be funded before or instead of other projects which may sound/ look similar?
What makes your project so special?
You must be able to put the answer to these questions on paper. Write without being so wordy so the person reviewing the application doesn't get lost or loses interest. The person reviewing for the funding source must understand you completely.
Try and write as though the person with the funds is sitting write across the table from you. Don't try to be somebody you are not. "Be" the person and the project that is going to get funded.
Be Positive
Explain the project as though the funds were already on hand. State the things that you are going to do. Show them the completed picture- mission accomplished- all systems "go" and everybody wins.
Don't say you hope to accomplish something if the funds are granted. The agency knows the funds aren't yours yet, or you wouldn't be asking. Always demonstrate the project from a position of strength and a feeling of accomplishment.
Always talk about the benefits to the local community. Let them know how your project will benefit the community (housing, services, environment, economics, tourism-- whatever)
Discuss your Qualifications
Don't forget to tell them how well qualified you are to head this project. Let them know how many year of experience you have in this field. This is your passion. This is who you are. This project is what drives you. Helping the members of this community is your direct and ultimate goal.
If there are areas for which you are not the most qualified, tell them how you expect to address those issue: Putting other experts to work!
Always tell the truth!!!!
Never Lie. Honesty goes a long way. They know you have some shortcomings. Address them. Explain how you intend to overcome the shortcomings. Don't try to "BS" the agencies. Don't brush over problems, solve them. At the same time- don't sell yourself short.
Proposal Writing
Contact the agency giving the grant or loan and determine the eligibility requirements.
Take a look at the challenges that needs to be addressed.
Think about what you want to accomplish with the grant or loan for which you are applying.
What is your plan of attack? Always tell the funding government agency how you propose to solve the problem.
Consult experts in this field and get their opinions.
Write with your heart and soul!
What Every Proposal Should Contain:
Coverletter
Title Page
Table of Contents
Project Information
A Need Statement
Goals and Objectives
Explanation or Approach
Evaluation of Effectiveness
Budget
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