What is a grant exactly? According to the U.S. Department of Health and Human Services, “grants are not benefits or entitlements. A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. Federal grants are not federal assistance or loans to individuals.”

Although grants are available for individuals, there are more grants available for organizations. Grants are not for personal financial assistance, but are geared towards funding for college educations, initial investors, medical research, and even expansion grants for businesses. Groups or organizations that are eligible for grants are the as follows: Government, Educational, Public Housing, Non-profit, For-profit organizations, and Small Businesses.

An incomplete list of the different types of grants offered by businesses:

• Business
• Child care
• Health care
• Personal grants to attend U.S. Colleges
• First-time home buyers/owners
• Education
• Adult education
• Minorities
• Affordable housing
• African American scholarships
• After school grants
• Agriculture funding
• Law enforcement
• Grants for women to start a business
• Innovative research
• Special education
• Private foundation
• Home improvement
• Home repair
• Foundation grants
• Foreign students
• Religious
• Farms & farming
• School

As you can see there are many options for acquiring a grant. Grants are free and non-taxable. They are not like loans that you have to pay back. The money can be acquired in one lump sum. While they are sometimes harder to earn than loans, grants are easy to find because there are so many available. It will take more effort and dedication on your part to apply for and receive a grant.