Funding Sources

Job #4040

Job Posting Details

Job # 4040 Funding Sources

Posted Date
Jun 28, 2007 @ 22:51
Respond By
Jul 2, 2007
Word Count
753
Language
English (North American)
Gender
Both
Age Range
-
Category
Business

Job Description

This voice over assists businesses and individuals who are applying for government grants.

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In almost every city in the United States there are hundreds of different grants available. In many areas these grants go unclaimed. The State and Federal Governments have set aside billions in grant money that must be given away every year. There are also numerous national and local organizations that give away grants. Once you start to do the research you eyes will be opened to the endless possibilities. Chances are you’re eligible! This money could be yours to keep as long as you use it for a worthwhile cause and it helps the grant giving agency reach it goals.


The six major sources for government funding are:

-Federal & State Government Grants
-Private Foundation Grants
-Corporations
-Federal & State Government Low Interest Loans
-Federal & State Government Venture Capital
-Private Venture Capital

Each has its own agenda & different requirements concerning who can apply, the applications process itself, how the money must be spent, and the methods of evaluation.

Let’s talk about the main ones for a few minutes

Federal and State Government Money
There are so many different possibilities when it comes to the government. The only drawback about the government is getting in touch with the correct person. Have you ever tried to call about a grant or tried calling a government office and all you get is answering machines, or someone who doesn’t have any idea what you are talking about? The government is a great source of funding; the trick is getting a hold of the right person.

Everyday the government gives funding to entrepreneurs, students, businesses, inventors, minorities, veterans, the unemployed, youth services, communities, home and real-estate buyers, artists, musicians, nurses, teachers, researchers, and that’s just to name a few. Ranging from large corporate bail outs to helping people start their own business or go to college.

Each of the 50 states are also a major source of financial assistance to small businesses and educational programs. State money is given for businesses to purchase buildings, land, equipment and more.

The Government also has various other programs for funding that are like grants, but have some differences. For instance,

-Loan Guarantees
Which are programs in which the federal or state agencies agree to pay back all or part of a loan to a private lender if the borrower defaults.
Also there are,

-Direct payments
Which are funds provided by federal or state agencies to individuals, private firms, and institutions paid directly to the company or service in your behalf. The main difference is that the money is not paid directly to you to purchase the things you need, but rather to the company that is providing you with those things. The use of direct payments may be “specified” to perform a particular service or for “unrestricted” use.


Private Foundation Money
There are over 30,000 private foundations in the U.S. And those private foundations award more than 4 Billion dollars annually. Foundations fund those organizations that can present a convincing case who will help the foundation reach it’s long-term goals.

Foundations must by law give away at least 5% of its total assets every year, to keep their tax-exemption status.

Foundations and Agencies are dedicated to providing a common good for society by helping businesses and individuals with grant money. It’s up to the individual foundation and agency on how they distribute their funds, some just give to businesses and others give money for everyday expenses.

Corporations
When Corporations fund projects, they look for something in return. Like what could you offer. How you can improve their corporate image, the environment, benefits programs, or help them achieve their corporate goals.

There are close to 2.5 million corporations, but only about 1/3 of them make contributions to organizations.

Remember to look at all the options available for government money. This includes:
-Low Interest Government Loans
-Venture Capital
-Government Contracts and
-SBA Loans

Many people enter the government-funding arena with the mindset that: “I am only going to go after free money” Whatever money you can get for the venture you are starting is a bonus. Don’t rule out any options, just because you want to get free money from the government. Using all available options might allow you to get your project started sooner. If your idea is a good one, you feel passionately about it and you are open to all possible funding sources, then you’re on the right track! The grant process may take months or years to go through, but it’s worth it when you receive money.

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