Dipping Into the Well of

Government Grants

“A corporation’s primary goal is to make money. Government’s primary role is to take a big chunk of that money and give it to others.”

- Larry Ellison

Free money… really?

That’s right! There are billions of dollars available every year to regular folks just like you.

The catch?

The money has to be used for specific purposes. you can’t just get the money and use it however you please. And that’s where grants come in…

What is a grant?

A form of gift that entails certain

obligations on the part of the grantee and expectations on the part of the grantor.

A Few Things to Know About a Grant

Every grant carries stipulations

regarding how the money is to be

spent

You have to use the grant as it is

intended

Grants don’t have to be paid back

2 Types of Government Grants

Federal grants – Provided by a wide variety of federal governmental agencies. Tend to be geared more towards larger organizations and state/local governments.

State grants – Provided by your state government. In many cases, money was originally given to the state by federal government. More grants exist here for the individual.

About Federal Grants

Agencies like the Department of Agriculture, the Department of Labor, and the National Endowment of the Arts serve as grantors.

There is a lot of money available, if you have a project that appeals to these departments.

Funds come from Congress’ federal budget each year dedicated to grants. Funds are available once budget is approved.

Grants are listed in the Catalog of Federal Domestic Assistance (CFDA). The CFDA is available online at http://www.cfda.gov/

Process for Getting a Federal Grant

Register & apply

• Register yourself and/or your organization.• It will typically take 3-5 business days for your

registration to be accepted. • It can take as long as 2 weeks.

Find a grant

• Locate grant opportunities that support your need.

Process for Getting a Federal Grant (Contd.)

Application is reviewed

• Preliminary evaluation.• Can take a couple of months.

Pre-award process

• Which projects will be funded?• How much money will each receive?

Process for Getting a Federal Grant (Contd.)

Notification of award

• ‘Winners’ are notified of acceptance and amount of funds.

You receive the grant

• The entire process typically takes about a year.

How to Find Federal Grant Opportunities

All federal grant opportunities can be found at http://www.grants.gov.

You can search for grants by category, agency, or advanced search.

If you have any doubts about the appropriateness of your project for the grant in question, you can call the agency and ask them about it.

Tips for Finding a Grant Opportunity

Determine your eligibility at http://grants.gov/aboutgrants/eligibility.jsp for any

federal grants. There are few federal grant opportunities for individuals; the primary exception

being educational grants.

Search for grants with the search function. Take a close look using several different keywords for your

searches and see what you can find that might apply to your situation.

Getting Ready for a Federal Grant

Prepare

Get in touch with the program contact for

deadlines and requirements.

Requirements and procedures vary depending on the government agency.

Develop proposal ideas

Write a proposal that meets the spirit and requirements

of the grant.

Ensure someone else isn’t doing a similar proposal.

Getting Ready for a Federal Grant (Cont’d.)

Get community

support

Find political, academic or professional groups that are

willing to provide written support.

Meet with community decision makers who are interested in the subject.

Find best funding source

Ensure that your proposal and the grantor have the

same intentions and interests.

Get to know the personnel. This will be invaluable

throughout the process.

Getting Ready for a Federal Grant (Cont’d.)

Start the proposal

Keep all your ideas in one place.

Review your ideas regularly; you can get something good by merging multiple ideas.

Get the draft reviewed

Get constructive criticism now, not during the review process with the agency.

Neat and accurate packaging, as well as

multiple copies, required.

Other Tips to Get ReadyConsider attending a grant-writer workshop.

The more letters of support you can secure, the better your chance of success. Community support can be critical throughout the grant review process.

When you’ve found a potential grantor, contact them and get the grant application kit sent to you, if it’s not available online.

Keep in mind that deadlines are not negotiable.

8 Components of an Impressive Proposal

1. Prepare a concise outline.

2. Present yourself as credible and geared

toward grantor’s goals.

3. Do needs assessment to include factual data, purpose of project and current

measures.

4. List quantifiable objectives with

reasonable timeframes and a

solve problem statement.

PROPOSAL

8 Components of an Impressive Proposal

5. Outline plan of action, list resources needed, and show

interrelation of parts.

6. Evaluate project, including product and

process analyses.

7. Discuss future funding plans after grant period ends.

8. Plan budget to include key elements since it’s difficult to adjust it later on.

PROPOSAL

About State Grants

Although every state has its own requirements, the process for state grants is rather similar to the federal grant process, simply on a smaller scale in most cases.

Every year, the state also has to approve a budget, and the amount of funds that are to be made available for grant purposes are part of that budget. The federal government provides many of these monies to the states.

How to Find State Grant Opportunities

Find the opportunities in your state. Do an online search for your state level grants. For example, if you live in Idaho, you can search for ‘Idaho grants’.

Apply for the applicable grants. Provide all the required information.

There are a lot of grants available at the state level, yet there tends to be less competition for these grants than those at the federal level.

Be Careful of Scams!

Government grants are ripe ground for those that perpetrate scams on good people.

When people believe that money is available and it’s hidden from common view due to the government’s inefficiency, it’s easy for scammers to get in and get a foothold.

“As I’ve said before, free money scams are a problem.”

- Matthew Lesko

Scams To Watch Out For: Prepayment Scam

Scammer calls you to say you’ve been selected for grant

You’re asked to pre-pay a processing fee of $150-500

After paying the fee you don’t get a

grant… scammer disappears

Scams To Watch Out For:Grant Guarantee Scam

Scammers guarantee they

can secure a grant for you.

You pay an upfront fee and a monthly

recurring fee.

They continue the scam until you run

out of money.

Things to Know to Avoid Being a Victim

The government isn’t going to phone you to offer you a grant.

No one can provide a guarantee to you that you’ll receive a grant. Committees of government employees decide grant awards.

Grants are only provided for specific purposes. If someone is offering a grant for some vague reason, you know that something isn’t right.

Government grants require extensive applications and documentation. You’ll never get one without going through the application process.

How to Stay Clear of Scammers

The most common justification given by a scammer for a grant guarantee is that you’ve paid your taxes on time.

Never give out your banking or credit card information over the phone to someone that calls you about a grant.

If it sounds too good to be true, it probably is. Keep your wits about you and simply remember that you have to initiate the process to receive a grant.

There really is grant money

available to the average person.

Grants get awarded every

day.

Remember…

Federal government grants are geared more towards larger companies, non-profits, and state/local governments.

State government grants are the gold mine for the individual and small business owner.

Grant applications can be very involved for larger grants. Take the time to plan and then do a complete and error-free job.

Closing Notes

Don’t be the victim of a scam. If you haven’t applied for one, you’re not going to be offered one.

Grants are out there for the taking. Follow the tips in this report and you’ll be well ahead of the pack!

Be Wise

Be a Go-

Getter

We hope you enjoyed your Special Report!

Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog.

Common Cents Wisdom is a website with hundreds of informative articles, special reports, resources to assist you with all of your financial concerns and a free monthly newsletter.

Sign up to receive your free eBook "Common Cents" and get started today on the road to financial freedom!

This Free Course Includes:

A Complete 80+ Page, 16-Module Home Study Course in PDF format

Companion Worksheets and Cheat Sheets

Budget Helpers, Worksheets, and Trackers

Bonus Audio Interviews with Financial Experts

My Secret Resource List of Helpful Money Sites, Tools, and Calculators

Bonus #1: Boosting Your Value Without a Formal Education

Bonus #2: Building a Wealth and Prosperity Mindset

Bonus #3: 25 Ways To Protect Your Identity

Don’t Delay! Get Your Free Course Now!

Sign Up ~ FREE Personal Finance Newsletter “Finally… A High-Quality, Content Rich, No BS NewsletterWritten Specifically For Those Interested In Personal Finance” What you can expect to receive EVERY Month by signing up: Special Report – 10 to 20 page in-depth report on Personal Finance topics important to you! Articles to keep you informed on a variety of topics relevant to your financial freedom. Action Guides, Worksheets, Resources & Buyer Guides! Monthly Financial Calendar to keep you organized and current with managing your personal finances. Periodic reviews of Products and Services – Real Financial Solutions ~ Real Fast!

http://www.commoncentswisdom.com/newsletter/