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Grants and Loans

A grant is a sum of money given by an organization, especially a government, for a particular purpose.

A loan is a sum of money that is expected to be paid back with interest.

Grant 101

What is a Grant?

Grants are non-repayable funds or products disbursed or gifted by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal or an application is required.

How do I get a Grant?

Grant writing refers to the practice of completing an application process for funding provided by an institution such as a government department, corporation, foundation or trust. Such application processes are often referred to as either grant "proposals" or "submissions."

Loan 101

What is a Loan

A loan is money, property or other material goods given to another party in exchange for future repayment of the principal amount along with interest or other finance charges. A loan may be for a specific, one-time amount or can be available as an open-ended line of credit up to a specified limit or ceiling amount.


Who gives Loans

Loans are usually given by banks based on certain criteria. Here are typical underwriting requirements for personal loans: Minimum credit score: 640-750. Maximum debt-to-income: Up to 45% depending on income, loan amount and credit rating. Interest Rate: 8.50% – 18.0% depending on credit rating.

Who gives Grants?

The Rockefeller Foundation, the Soros Foundation, the Turner Foundation, the Kellogg Foundation, the Gates Foundation and the Carnegie Foundation to name just a few.Wealthy individuals choose to set up a foundation that gives away money to support causes the individual would like to support.

How Do I Get A Loan

The first step is to figure out what you need. The type of loan you get will depend on what you plan to do with the money. Banks and credit unions are a good place to shop for most loans. Peer-to-peer loans and other sources of marketplace lending should also be on your list. You generally need “credit” to get a loan. This means you’ve got a history of borrowing and repaying loans. Be sure to fix any mistakes in your credit files, as they’ll hurt your chances of getting a good loan.

For more information Contact our Business Coach to discuss options or training.