NFIB

Get a Grant
03/ 12/ 2004

When most people think about funding sources for business, loans, stock offerings and venture capital are pretty high on the list. But many companies, possibly yours, are also eligible for government and private foundation grants.

If you're doing any kind of scientific research, you've probably explored grants. But regardless of your business type, did you know you may be eligible for grants or special loans because your business is located in a particular area, say, a historic district or a disadvantaged neighborhood?

And private foundation grants and loans are available to promote myriad causes. They're kind of like college scholarships -- if you look hard enough, you'll find one whose requirements you match. Workshop contributor Edith Helmich has some ideas to help you on your hunt:

The world of grant applicants is very specialized -- you'd take different approaches to government vs. private corporation vs. private trust grants. Within each of these areas, there are specific guidelines and expectations. An experienced grant writer can help you understand the specialized vocabulary for grant applications that conveys meaning and that inspires confidence. Carefully prepared applications are the difference between receiving an award and losing out.

When you apply for a grant:

* Have a specific goal in mind.

* Consult with a person experience in grant writing.

* Communicate with the awarding organization to be sure you fully understand their requirements.

Knowing how to write the application and your reasons for applying are equally important. Your proposal may never be considered if the grant application is poorly or naively written. It's unfortunate but true that you may not learn why your application was rejected. Most often, a form letter is sent to unsuccessful applicants. If you can, talk to the granting organization to learn how to improve future applications.

Grant awards go to the applicants who show most clearly that they can accomplish what they say they want to do. Few applicants have an opportunity to address unanswered questions. You must show, in your application, clear commitment and in-kind support for the proposal.

The grant should be written by those closely involved with the grant concept and, ideally, with the project's implementation. Because of the unique requirements for grants and because of the highly competitive nature of most grants, additional assistance from someone who has experience with grant applications is advisable.

A writer with grant writing experience will structure an application that meets all of the above criteria and will seek out the relevant information to support the proposal. At the least, the grant should be reviewed by someone who has the relevant experience. In some instances, grant writers may help you identify potential funding sources.

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