Unlike loans, grants are free money. You don’t need to pay them back, much less with interest. But asking for and receiving a grant is no easy feat. The application process can be long and tedious with a stretched waiting period. You’ll also have to meet specific requirements depending on the type of grant you apply for.
From federal and state grants to grants funded by private organizations, non-profits, or charitable foundations, your grantor will determine the qualifications and stipulations you need to follow.