Some need financial assistance with continuing education or obtaining a home. Some have loftier goals and need money for developing research or starting a small business. The federal government can be a wonderful resource for obtaining financial assistance. Almost every government agency has grants or loans available to aid citizens in these types of ventures. Before exploring the many wonderful resources available for funding, there are some basics that you need to be aware of.
Grants are funds that are given to non-profit organizations for community projects.
The funds do not have to be repaid. A great deal of bookkeeping and paperwork is often required on the part of the recipient in exchange for the grant money. In addition, individuals seeking funds are often eligible for low-interest loans. These funds require repayment at a set monthly rate. It is important to be clear about how the money will be used before beginning your search for the perfect grant or loan.