Yes, this is correct. Unlike a loan, a grant is money you don’t have to pay back. However, to successfully obtain a grant, you must meet the specific criteria for the grant you have applied for. If you haven’t applied for a grant before, the process can be complicated and overwhelming. We recommend using a professional team like FV Vantage to source the correct grant for your business and help you with the application process to give you the best chance of receiving approval.