There are grants for for-profit businesses, non-profit businesses, individuals, and other applicant entities. However, unlike infomercials, the grant is not available to all companies, all purposes, all the time.
Most grants are designed to operate programs and most grants are designed for tax-exempt organizations. Nonprofit organizations with exempt and charitable status from the IRS may qualify for grants from foundations, businesses, and governments. So if you’re looking for grants for a tax-exempt organization program, there are probably one or more sources available to you.
There are about 100,000 sources of foundation and corporate funding. Each one has a specific purpose and a geographical area in which they will grant financing. Sometimes the geographic area is limited to a single city or community where the corporation is headquartered. Others may fund projects at the state, national, or international level.
For-profit businesses are more likely to qualify for Government Grants as specified in the Notice of Funding Announcement (NOFA or Notice). Not all of these businesses or purposes are good for grant funding. As a general rule, retail and wholesale businesses are generally not eligible for grants. Although there is always an exception to the rule, there are very few grant funding opportunities for these types of businesses. Most of the grants received by companies other than those that are tax-exempt would be for scientific research, medical research, development of alternative energy sources, or improvement of the country’s infrastructure. Businesses such as trucking, lawn care and restaurants will find it very difficult to find a suitable subsidy.
Individuals such as artists, educators, researchers, and health professionals may qualify for a small number of foundation grants based on specifications. Other people may qualify for government grants; Many of these grants are administered by state and local governments.
The most important indicator of whether or not an applicant will receive funding is: how close the applicant’s purpose and project is to fulfilling the funding source’s mission and funding priority. The more your program fits the purpose the funder wants to award an award for, the better your chances. The more you chase money, the less likely you are to win any funding prizes.
Then there could be various other features of the application process that are woven into the full instructions, such as having to include matching funds of your own or submitting a required Letter of Intent before you can submit the full proposal.
Working with a professional grant writing association can significantly improve your chances of finding the best matching grant funding opportunities.