What are grant dollars?
Grants are a type of funding provided by the government and private entities that do not require a payback by the grant recipient. In seeking grant funding it is important to remember this type of capital is typically based on the goods or services providing a public benefit.
Government grant funding is an essential economic tool used to help financially support ideas, projects, and businesses that intend to create social and public value through the use of these dollars.
In private grant funding the intent for use of funds is at the sole discretion of the grant funder.
Who is eligible for Grant Dollars?
|Federal Grants||State/Local Grants||Private Grants|
|Public Housing Organizations||√||√||√|
Why use grant dollars as part of your capital stack?
In most cases grant funding…
- Delivers more favorable terms to the business owner over loans, credit cards, etc.
- Does not require a business owner to give up equity in exchange for funding
- Offers a more diversified capital stack
- Can be paired as matching funds to secure additional funding, increasing the overall dollars to the business
- Do not need to be paid back
Where do I access grant funding?
Here are some resources...
Looks easy enough…
While grant funding is meant to be accessible to everyone it is an extremely time consuming and detailed process, below are some of the steps EST Grant Services will take to help secure funding
- Search multiple databases (federal, state, local, private) to find the grants your business and projects are qualified to apply
- Select the appropriate opportunities, in some cases you will have to submit a Letter of Intent before you are invited to apply
- Apply - include any documentation required of the grant such as business outline, project details, financials, additional support, etc
- This process can require a back and forth with the funding opportunity until all required documentation is received
- Be sure to include wording and references that are of importance to the funding source
- Many of these grants are highly competitive so having as much advocacy and support as possible is important
- Remain diligent in following up about the status of your application - funding cycles and requirements may change - you’ll want to remain diligent in following this process for every grant you apply to
- Follow up about why your project is best positioned to receive the funding
- Once awarded you will need to follow the funding process to take in the funds
- Keep detailed records of how funding is used
- Submit detailed reports on use of funds, status of the project. Depending on the business or the project this can be a multi-year process
ETS Grants is here for you
Many grants are highly competitive and tremendously detailed so having as much advocacy, expertise, and support in your corner is critical. The mission of ETS Grant Services is to deliver the expertise to make federal, state, and private grant funding accessible to all qualified small and mid-size businesses. We want to see your businesses that have a social benefit component to the work be able to access qualified funds and increase impact.
Your business is ready to consider grant funding
when you have the following:
- Documented site control of your physical space or real estate project
- Conceptual drawings or renderings of the physical space
- Full project description or business plan
- Professionally prepared budget of the company and of the project
- The following are great candidates to consider grant funding:
- Developing a physical space or real estate project
- Certified minority owned businesses
- Scaled non-profits looking for operational funds
Everyone who owns or has invested in an apartment building should be familiar with cost segregation. Without it, you could be missing out on millions …