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Government Grants
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Every year, and in 2008, the United
States Government awards nearly 400 billions of dollars in
federal assistance Agreements, most commonly in the form of Grants
and loans. Along with this Government Aid, there is
nearly another 26 billion dollars in private funds that are
accessible to Small businesses. These funds and others
playing a key role in Business Start-ups, Business
Expansions, Research & Development in small and medium size
enterprises which helps the overall growth in developing the
economy. Accessing these types or generally any type of funds, whether
it be Government Grants, State Grants, SBA Loans,
Private Loans, Bank loans and others are more challenging
than they appear. To acquire any type of funding for your business
you need a lot more than just a dream. A written business plan, proposal
and/or meet the specific requirements play a key role in the process of
getting
funds for your business.
Where to Find the Money
All federal benefit programs are listed in the
Catalog of Federal Domestic Assistance, the CFDA.
The benefits listed in the CFDA are
available to:
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state and local governments;
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federally-recognized Indian
tribal governments;
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U.S. territories and possessions;
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domestic public, quasi-public,
and private profit and nonprofit organizations and institutions;
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specialized groups; and yes, even
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individuals
Types of Assistance Offered
The following are the 15 types -- 7 financial and 8 non-financial -- of
federal assistance offered by the federal government:
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Formula Grants - Allocations of money to States or their
subdivisions in accordance with distribution formulas prescribed by
law or administrative regulation, for activities of a continuing
nature not confined to a specific project.
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Project Grants - The funding, for fixed or known periods, of
specific projects. Project grants can include fellowships,
scholarships, research grants, training grants, traineeships,
experimental and demonstration grants, evaluation grants, planning
grants, technical assistance grants, survey grants, and construction
grants.
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Direct Payments for Specified Use - Financial assistance
provided directly to individuals, private firms, and other private
institutions to encourage or subsidize a particular activity by
conditioning the receipt of the assistance on a particular
performance by the recipient. This does not include solicited
contracts for the procurement of goods and services for the Federal
government.
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Direct Payments with Unrestricted Use - Financial assistance
provided directly to beneficiaries who satisfy federal eligibility
requirements with no restrictions being imposed on the recipient as
to how the money is spent. Included are payments under retirement,
pension, and compensatory programs.
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Direct Loans - Financial assistance provided through the lending
of monies for a specific period of time, with a reasonable
expectation of repayment. Such loans may or may not require the
payment of interest.
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Guaranteed/Insured Loans - Programs in which the government
makes an arrangement to indemnify a lender against part or all of
any defaults by those responsible for repayment of loans.
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Insurance - Financial assistance provided to assure
reimbursement for losses sustained under specified conditions.
Coverage may be provided directly by the government or through
private carriers and may or may not involve the payment of premiums.
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Sale, Exchange, or Donation of Property and Goods - Programs
which provide for the sale, exchange, or donation of federal real
property, personal property, commodities, and other goods including
land, buildings, equipment, food and drugs. This does not include
the loan of, use of, or access to federal facilities or property.
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Use of Property, Facilities, and Equipment - Programs which
provide for the loan of, use of, or access to federal facilities or
property wherein the federally owned facilities or property do not
remain in the possession of the recipient of the assistance.
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Provision of Specialized Services - Programs which provide
federal personnel directly to perform certain tasks for the benefit
of communities or individuals. These services may be performed in
conjunction with nonfederal personnel, but they involve more than
consultation, advice, or counseling.
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Advisory Services and Counseling - Programs which provide
federal specialists to consult, advise, or counsel communities or
individuals to include conferences, workshops, or personal contacts.
This may involve the use of published information, but only in a
secondary capacity.
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Dissemination of Technical Information - Programs which provide
for the publication and distribution of information or data of a
specialized or technical nature frequently through clearinghouses or
libraries. This does not include conventional public information
services designed for general public consumption.
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Training - Programs which provide instructional activities
conducted directly by a federal agency for individuals not employed
by the Federal government.
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Investigation of Complaints - Federal administrative agency
activities that are initiated in response to requests, either formal
or informal, to examine or investigate claims of violations of
federal statutes, policies, or procedure. The origination of such
claims must come from outside the federal government.
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Federal Employment - Programs which reflect the government wide
responsibilities of the Office of Personnel Management in the
recruitment and hiring of federal civilian agency personnel.
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