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| Where To Find Government Grant Money You've probably heard that the US Government gives away a lot of money in the form of grants. Did you also know that millions of government grant dollars go un awarded because most people are either unaware of the programs, or simply think that getting grant money is too complicated and involves too much red tape. How do you go about getting your hands on some of this money? Before you start planning your early retirement party, be aware that the government puts forth very specific conditions as to how grant money is awarded. You must be able to perform a specific action or complete a project for which the government has earmarked funding. Grants are very different from government benefits and entitlements in that they require action on your part, not simply a need for the money. A Project Grant would provide government money for a set period of time while some project is completed by the grant recipient. It may be a construction project, a scholarship, or a research project. The grant money comes with an obligation on the part of the party receiving the grant to complete the required project. Failure to do so could result in stiff legal penalties. Another type of government grant is known as "direct payments with unrestricted use." Beneficiaries who meet the eligibility requirements can receive government assistance with no restrictions placed on the way the money can be used. Just a few examples of this type of grant are: - Livestock Assistance Program - Tree Assistance Program - Fishermen's Contingency Fund - Unemployment Insurance - Social Insurance for Railroad Workers - Monthly Allowance for Children of Vietnam Veterans Born with Spina Bifida - Longshore and Harbor Workers' Compensation These are just the tip of the iceberg, as there are a variety of other free government benefit programs falling into this category. If you qualify for direct payments with unrestricted use, you will enjoy a much greater degree of freedom in how you spend the money. Other government grants may take the form of low interest or interest free loans to a qualified party. These loans are often available to people who would not meet the income or credit requirements of a traditional lender. The federal government may also safeguard lenders against default by borrowers through a guaranteed or insured loan. If you don't find a federal grant program of interest to you, states offer many grant programs for their residents to seek education and employment. Private foundations also award millions of dollars in grants every year. In order to retain their tax exempt status, these foundations are required to disburse 5% of their assets each year. Each foundation focuses on a particular group or segment of the population with a need for funding. This money is paid to both businesses and individuals for a host of different pursuits. If you want to go it alone in your search for grant money, the information can be found on the internet and at the public library. However, to save a lot of time in finding and applying for grant money both public and private, there are third party grant assistance companies that offer software and access to databases of available grant programs searchable by keyword and type of grant. They also offer instructions on how to put together grant applications that maximize your chances of being awarded money. The better companies back their programs with a money-back guarantee, so there is no risk to you in trying their services. You could save countless hours of research, and find the work of applying for grant money much more enjoyable. |
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