How Business Can Obtain A Federal Business Grant
Every year Congress approves the national expenditure budget, which is a huge compromise between conflicting social and political alternatives. Some of this money goes to funding government agencies in terms of their public assistance projects. While everybody has a finger in the pie as to what deserves support, Congress usually makes the final decision based on recommendations by the United States Treasury. This is where the money for federal business grants comes from.
Once approved, the Treasury Department releases the funds to the agencies concerned. This is where, in terms of federal business grants, new opportunities emerge. These are listed on the Catalog of Federal Domestic Assistance (CFDA) website, to make sure that everybody in America stands an equal chance. The CDFA lists every American grant and assistance program (there are over 1,800 available). Searching this site online is free, and larger public and college libraries have copies too. As the government adds new grant programs, these are announced in the Weekly Federal Funding Report, which is published by the House of Representatives, and in the Federal Register as a notice of funding availability.
Eligibility
The CFDA listing includes notes regarding which individuals, groups or organizations may apply for relief under a specific grant program. These criteria include:
- How grant money awarded may be used
- Who to contact and how to apply
- How applications are evaluated and grants awarded
- What is expected of successful applicants – this includes paperwork such as reports, performance standards, and audits too
Further detail and advice may be obtained directly from the nearest federal agency.
The Money will not Fall off the Tree
Obtaining a federal business grant is not like Christmas when everybody in the family gets something. To the contrary, receiving government money in that way comes with obligations – and expectations on the part of the federal authority too. Staying mindful of these obligations is the key to avoiding trouble with the federal authorities after you accept a grant. The government expects you to work for your money, the way you said you would.
Federal Business Grants are for Organizations, not Individuals
Although federal business grants are not aimed at individuals (State business grants are), this does not mean that they are only awarded to big corporates. Many private individuals succeed in obtaining these as well, when they form collectives to achieve benefits that help their wider communities too. Examples of these include
- A plan to attract new jobs to a depressed downtown area
- A neighborhood road repair project
- A way to prevent recurring flooding
- A local water conservation program
Organizations in receipt of grants like these are required to record spending of federal funds scrupulously, and submit audited reports. Money not spent must be returned, and project changes approved by the authorities in advance. Failure to act responsibly in this regard can lead to fines, and even perhaps to prison sentences.
The following are useful links to other resources on the internet:
Department of Education Grants and Contracts Information
Department of Health and Human Services (HHS) GrantsNet
Department of Housing and Urban Development (HUD)
Department of Transportation (DOT)
Environmental Protection Agency (EPA)
National Institutes of Health (NIH)
Federal Emergency Management Administration (FEMA)
Federal Business Grant opportunities are available to organizations (and a few individuals) whose requirements match what the government wants to expand and loan to. Once the authorities award funds, grantees must comply with government rules, and return unspent monies. Any organization looking for funds can take advantage of business grants immediately.
