Oftentimes, earning a decent income is hard to come by, especially for those living in third-world countries. And in the world we live in today, money is a great differentiator. People that live in a middle-class society have more chances for succeeding than those that live below them. That is because those that have the a stable income source can afford to go to school, resign from their jobs at a moments notice, have savings, and more, than those that do not. Fortunately, there are a variety of ways to combat this issue that plagues around 29.3 million people around the world. One such way is through an application for grants. Grants are one of the tools that the government, corporation, educational institution, etc., provides for certain people, so that they may achieve their goals. If you are looking to create a grant application template for your office or are writing a grant proposal, go ahead and see our custom grant application templates below.
A grant application is a piece of written document that refers to a request or appeal for funding. These are then addressed and submitted to a government agency, foundation, corporation, or trust. Grants can cover most needs, ranging from child support to educational support to nonprofit organization projects to business ventures to community-based plans. Today, marginalized people and those that are economically challenged, rely heavily on grants to help them improve their financial situation. Grant application forms do not normally follow a certain structure or format, but having a convincing application can greatly increase your chances to be selected. However, writing a grant proposal is easier said than done. That is why we provide you with a few guidelines to help you write a winning grant application or proposal. See them below:
Normally, cover letters for grant proposals are written last. This is so that you can help summarize your grant application much easier. However, this step is never to be taken lightly. Keep in mind that this is the first thing that your addressee will see and read when they see your application. Aside from that, a cover letter enables your funder to have a feel of your request; basically, a first impression. It is in this section that you will need to discuss what your proposal asks for, so make it count. On top of that, when writing this part, make them care about your program, project, need, etc.
Right after the cover letter is an executive summary. This is where you need summarize what your grant application is asking for. In its most basic sense, your executive summary should enable the grantor to understand what your program is about and why you are asking for funding. Much like the cover letter, try to keep it short, but complete. Professionally speaking, an executive summary can be as short as two sentences. However, it must not be more than one page. Lastly, make sure that this entices the funder to continue reading.
The need statement is the meat of your entire grant application. This is where you need to put your best foot forward. Make sure that you explain to your reader how your proposal is an essential factor to your project or need. On top of that, also discuss why you should be the one they will choose for the grant. When creating a summary, you must never assume that the grantor is knowledgeable of your plan or project. Always discuss your proposal in detail, to help them understand.
The reason you are submitting a grant application is because you have a problem or an issue that you need to solve. In writing the goals and objectives for your grant, briefly discuss what you or your organization plans to do in order to find a solution. Make sure that you state what you hope to accomplish, as well as the goals that you wish to achieve. In essence, your goals are the outcomes and your objectives are the steps that you need to take in order to get to those outcomes.
Handing out a certain amount of money, especially in large sums, is never a simple process. There are a lot of factors to consider in the selection process. One major element is you or your organization’s information. It might seem simple, but it weighs more than one might expect. As an example, a corporation may hold a grant for an organization with little known background. In other words, they need a grantee that they can trust. So, much like having a client information sheet, you must also relay your platform’s history and why it can be trusted to use the money wisely.
Of course, a grant is available for those looking for financial aid. However, when preparing a grant budget, you need to be thorough. It is best to divide this section into different segments, such as direct project costs, personnel costs, and administrative or overhead expenses. However, also keep it short and simple. Make sure that your funder understands why your project costs that much money.
In its most basic sense, a grant is a form of financial aid given by government agencies, trust, corporations to a select group of individuals or organizations. Grants are tools used to fund projects or ideas that can benefit the general public, provide or improve public services, and stimulate the economy.
Both grants and loans are financial services offered to individuals, businesses, or organizations to help them achieve their goals for their lives, ventures, or projects. However, there is one major difference between the two. Basically, a grant requires no payment after giving it to the grantee while a loan requires payment; oftentimes with an interest rate.
Although they are not a popular choice for those looking for grants, there are banks that provide grant programs to the public. However, these grant programs vary from each bank greatly, while a few do not have these programs at all. With this said, banks that offer formal grants, often have the same guidelines as corporations while some have fewer ones that are better for community-based projects.
Grants are a fantastic way to receive funding in order to fulfill your project that can benefit not only you, but also to many people. That is why grant proposal writing is key. Having a winning grant application can help increase your chances of getting selected for the funding. Get started today with our top notch grant application templates below that work well with PDF formats.