Government Grants are available in all state all across the country. Individuals and organizations are people who will benefit a lot from grants. But what if you already know various types of grants yet you’re quite unsure if you’re eligible for any of those? You will see below what are the qualities that you must possess to be qualified for grants.
Most of the time, grants are being utilized for businesses. There are some factors that you have to consider why you are qualified to have grants or not. You have to consider the following:
Business location- Most of the time, the state government consider the business site to make sure that the place you have chosen entails economic stability. The main objective of considering the place of your business is to aid local ventures.
Business range – The range of your business including the number of your workers are being measured for you to obtain grants. Small enterprises and businesses receive restricted grants where you only need less than 250 workers in your business.
Your business sector – In some business division, the funds that they can receive are subject to some restriction and limitations.
Purpose for applying grants – Grants are given for precise reason. Grants can be utilized for office renovation, purchasing equipments, export market development and increase in employment. Grants are requiring applicants to have specific goals and results. Most of the time, they require the applicants to come up with the same vision and mission why grants are made.
However, your eligibility will still depend with the set terms and conditions for the grant that you wish to have.
For groups and organization, here is a list of categories that you can check:
Township or City
Federally Recognized Native American Tribal
Higher Education (Private Institutions)
Institutions of State and Public Controlled of Higher Education
Districts of Independent Schools
Civic Housing Institutions
Authorities of Public Housing
Authorities of Indian Housing
Non-profits with IRS and 501(c)(3) status (except from higher education institutions)
Non-profits with IRS but don’t have 501(c)(3) (except from higher education institutions)
For Profit Institutions (except small businesses)
Business loans and grants can be given to those companies that were able to comply with the set standards of United States’ SBA in most businesses in the country’s economy. Here are the general range standards:
Manufacturing and mining industries (500 employees)
Wholesale trade businesses (100 employees)
Retail and service ventures ($6 million)
Heavy and general construction companies ($28.5 million)
Special trade suppliers ($12 million)
Industries of agriculture ($750,000)
Each industry varies from one another. For the average annual profit size standard, it ranges from $750 thousand up to $28.5 million and for the standard employee number; it ranges from 100 up to 1500 employees. There are still exceptions but these set standards are vey significant and you can go trough SBA website for more info.
Each individual are only required to apply for available grants solely for individuals. Individuals are required to submit grants application, required documents and proofs that are significant to process your application. Individuals can’t take advantage grants that are only suitable for institutions and organizations.
More individuals are taking advantage grants to start up small ventures. This is also the reason why many people are so interested to possess grant that can aid them so much. If you want to search more information about the things you have to know about grants you can read written articles or go on line to get your free grants. Your patience plays a vital role to gain your success.