What should you be aware of when applying for business grants?
The idea of all the ads that notify you that they have gratis grants to offer seems too good to be acurate, and the truth is that in many ways it is. The ads claim that you’ll qualify to get business grants for your business. They are saying your application is sure to be accepted, and you never have to pay back the money.
There’s naturally a catch that they don’t mention. The Fed Trade Commission ( FTC ), the nation’s consumer safety agency, warns you that money for free grant offers often are a sting : the grant isn’t free, it is not warranted, and regularly it isn’t even available to you.
One. How long have you lived at this address?
Do you have a bank account?
4. Do you have at least $200 in your account at this time?
Next thing you know you are being asked to hold on the line while your eligibility is determined. After she congratulates you on your eligibility, she is going to ask you to pay an one off processing fee that can range from anywhere from $100 to $300.
If you query this fee, you may then be reassured that you the grant is warranted, and that if you’re not very satisfied with your grant, you will get a refund. However , she can’t offer to tell you all the conditions for a repayment.
The processing fee is said to cover finding a grant source and sending you the acceptable application package in the post. However , you won’t receive an application or a source. What you will get is a listing of agencies and foundations to which you must write and request an application.
Grants generally are given to serve a community good, such as bringing new jobs to an area, coaching younger people, preserving a little bit of history, funding soup kitchens or art museums, or researching medical problems.
If you ask an agency or foundation for money for private reasons, you most likely won’t get it, even if you’re financially needy.
Hence there are firms, who are able to steer you and tell you what really should be done to raise your chances to receive the business grants.
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