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.