Free Money Through Grants: Fact or Fiction?
Page 2

The free money offered through a grant program can lead to financial and legal disaster to an organization that does not abide by the strict rules that the grant holds. By failing on a part of the obligation agreed upon when the grant is approved, the organization and/or persons in charge are held accountable. Penalties can range from economic sanctions to prison in the instance of improper use or theft of this free money.

The majority of grants, or free money, that is requested is applied for and awarded to other Federal agencies, state governments, city governments, colleges, universities, and research organizations and businesses. Few individuals have the money, time, and expertise necessary to prepare adequate applications that are awarded free money through federal grant funding. Most active grant seekers, such as universities, employ full-time grant writers to do nothing but apply for and administer Federal grant funding. A full staff of grant writers is not uncommon at a large university.

Because this free money through Federal grants is carefully monitored, the truth is that the money isn't actually free. Applying for Federal grants takes an unbelievable amount of time. Additionally, by even unintentionally not abiding by the grant's requirements, as mentioned, an individual that is unfamiliar with the Federal government's grant programs can find themselves in a financial or legal disaster. With Federal funding cutbacks and the competition for grant fundings becoming more intense, seeking free money through a grant requires not only time, but also money, with no guarantee of success.

Stating it plainly, Federal grants and free money are fictitious. Often, it's more work, not to mention more time and money spent obtaining a Federal grant, than obtaining a low interest loan. Large organizations, such as universities, can benefit from grant funding much easier because they can apply for multiple grants at once, and a skilled, knowledgeable staff can monitor the grant's use carefully. A small business or organization may not see as much success in obtaining a grant due to the time needed to apply, monitor funds, and prepare materials for auditing.

The plain truth is that with federal funding cutbacks and competition for them becoming more intense, seeking a federal grant always requires a lot of time and potentially a lot of money up front with no guarantee of success. Dedication is needed, and is the most important part of attempting to obtain free money through grant funding.

About The Author Rebecca Game is the founder of Digital Women ®, an online community for women in business. A 30 year entrepreneur and dedicated to helping other women find business loans. Visit her site: Loans for Women. http://www.digital-women.com

Free Money Through Grants: Fact or Fiction?
  Back to Page 1

Additional Resources

category - Applying for a Grant

Ethical Schools Project in Peru
The Ethical Schools Project revolves around the notion of promoting a culture of ethical behavior and civic responsibility among members of the youth, as well as teachers and parents. The project also aims to explore ways that would contribute to a reduction in corruption and other forms of illicit activities such as cocoa cultivation and illegal environmental degradation, which are both common practices in Peru.

---

What You Need To Know About Grants.Gov
Grants.gov is one the largest websites that features at least 1,000 grant programs from 26 different federal grant-making agencies in the United States.

---

Grants From The Department of Labor
The Department of Labor was primarily created to nurture, promote and develop the welfare of job seekers, wage earners, and retirees of the United States of America, as well as to improve the country's working conditions, advance employment opportunities and ascertain work-related rights and benefits.

---

Motor Carrier Safety Assistance Program High Priority Grant Opportunity
The Federal Motor Carrier Safety Administration has recently announced the Motor Carrier Safety Assistance Program (MCSAP) High Priority grant, which enables the agency to provide funds to State agencies, local governments and organizations representing government agencies as they as train and educate qualified officers and employees in strict coordination with State motor vehicle safety agencies.

---