Private grant foundations in addition to the federal government give out billions of dollars in the form of personal government grants to various groups and individuals who request for them each year. However, applicants should be aware that personal grants are not loan programs though the decision of how much they require rest on their shoulders.
As long as the amounts requested are lawful and the applicant meets the foundation’s and government agency’s basic requirements, the money is theirs to keep and is not needed to be repaid back.
Basically, the free government grants are applied and availed to people from all walks of life, with thin or fat bank accounts for the ever increasing array of objectives. On top of this, the personal grant money is non-taxable and interest free.
Personal government grants don’t require credit checks, security deposits, co-signers, collateral and everybody is free to apply and be approved for them irrespective of their credit history or personal financial situations.
As long as the applicant is a United States citizen and pays his or her annual taxes accordingly, then he or she can apply and be approved for the free government grants. Discussed below are some types of available personal grants that one can apply for.
Private Foundation Grants
Private foundations are normally formed by wealthy corporations, individuals and trusts to benefit small businesses and individuals using their free grant money. The United States government requires these organizations to distribute approximately 5% of their total assets yearly so as to maintain their tax exempt status.
Some avail the applicants with specific personal business grants, while others grant individuals with money to cover the cost of everyday living. There is an extensive list of private grant foundations in the American Grant Provider Directory which can easily be accessed through the net.
Federal Personal Grants Programs
Every year, the US federal government distributes billions of dollars in the form of personal grants to both individuals and small scale businesses. The federal government understands that small businesses are fast becoming the lifeline of the American economy and that together, they employ millions of people thus their importance. A vigorous small business sector means a vibrant tax base for the American government.
The government also gives out the federal personal grants to individuals who need financial assistance for them to attend college, settle expected and unexpected personal daily expenses and so forth. For those people who are unable to cater for their housing needs for one reason or another, the federal government avails them with personal housing grants that take care of their dwelling requirements.
State’s Free Government Grants Program
Each US state is a major provider of financial assistance to its small businesses, individuals and education programs. The states have vetted interest in educating their residents to the highest possible level and in promoting small businesses. The reason for this is simple enough – educated residents attract more businesses which in turn increases the state’s collectible taxes.
Personal Government Grants
Personal government grants can be used for various personal purposes, for instance repairing your dilapidated dwellings, for settling due rent, purchasing a new home, paying for grocery expenses, pay off senior citizen bills, and so on. For this, millions of people receive free personal government grants for a wide variety of personal needs each year.
United States Government Small Business Grants
If you are dreaming of starting up a small business, then this is the category of grants for you. There are also government personal grants for the minorities, especially for women, to aid them start up and operate their own small businesses.
Once the small business grant money has been availed, the business owner can use it to pay themselves a salary as they wait for their business to become established.
Low Interest Government Loans
One can also be availed with some low interest government loans or no interest government loans to start up small business by the United States government’s grant agencies. Not only are the individuals availed with the government loans, but they are also assisted with free business management consulting assistance, free marketing assistance, free tax preparation help, free legal assistance and many more such value added assistance.
Once an individual has selected the most appropriate personal grants according to their specific special needs, then they can go ahead to apply for the one that suits them.
Do note that the planning process for application is as important as your selection process for the right grant – as they say, if you fail to plan, you only plan to fail. Happy searching and happy planning!
By: Bradley Barks
About Brad
Brad is our lead researcher and editor - he enjoys business, meditation, being active and always learning - his goal is to successfully help you research, find, secure, and enjoy grants and scholarships.
Google+