Definition

Securing money that will be paid back over several years to support big projects or growth. It makes large investments possible without immediate pressure.

What to consider

  • Check eligibility requirements carefully.
  • Understand any restrictions on use.
  • Prepare a detailed proposal to increase chances.

Real world scenarios

  • A tech startup in Boston applies for a government grant to fund research and development.
  • A small business in rural Iowa receives a grant for community improvement projects.
  • An entrepreneur uses a local business grant to launch a new service line.

Related terms

Entrepreneurial Finances