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According to a report recently released by the Census Bureau of the Department of Commerce, minority-owned businesses grew more than four times as fast as U.S. firms overall. Since 1992, these businesses have increased from 2.1 million to about 2.8 million firms.

Part of the reason for this unexpected growth is because government is making more minority grant money available.

Minority grant money is a type of funding given to deserving individuals belonging to a minority. The funds may be for the purpose of fostering minority education, benefiting a community where most of the population is made of minorities, and generally facilitating development of minorities in every avenue.

Minority grant money may also be given for projects, or for things like research, scholarships, or seed money. A project or a program is a creative plan of action that has a specific goal, usually community-based. Grantors generally want to fund new and innovative programs. So if you have a new program in mind that has never been done before and designed to help forward the cause of minority groups, then it’s possible for you to get government funding for that program.

However, if you feel that your idea is not innovative enough, take heart. There are instances where minority grant money is used to fund programs that have already been implemented. The only criteria, in this case, is that all previous programs similar to yours should have proven successful.

Minority grant money is allocated annually by the United States Congress federal budget process. Since it is the Congress that is responsible for passing laws that would make money available to the different government, it will ultimately be the one to decide how much minority grant money goes to which agency.

Once these federal budgets are approved, minority grant money are made available and made known to the public in the Federal Register. Minority grant money for the projects will be listed in the Catalog of Federal Domestic Assistance (CFDA) at CFDA.gov.

Currently, the CFDA website offers several programs, offering you minority grant money. Foremost of these programs is the Minority Business Opportunity Committee (MBOC). Run by the Minority Business Development Agency under the Department of Commerce, the purpose of the MBOC minority grant money is to foster new minority business enterprises while at the same time, maintain and strengthen existing firms. The minority grant money is supposed to aid in increasing their opportunities to participate and receive the benefits of our economic system.

Applications eligible for this minority grant money program are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.

Competitive awards for the MBOC minority grant money are made based on a panel evaluation of the applications. This evaluation includes such factors as capability and experience of staff assigned to the project; techniques and methodology, creativity and innovation, resources and costs. MBDA publishes notices in the Federal Register, Grants.gov website and the MBDA website when seeking applications for this minority grant money program. Competitive applications are normally sought every three years, upon availability of funds and depending on the Agency’s priorities.

Grant money is common these days. Not common in the sense that it’s available to everybody, because chances are it’s not, but common in the sense that this probably isn’t the first time you’ve stumbled on the term.

We’ve all heard the story. Some enterprising organization has a community-based project in mind and wants to seek corporate, foundation, individual, or government grants for funding. Sometimes, the project may even be personal, like consolidating your debt, for instance, or helping you set up your own starter business, although that fact may be dubious. Nevertheless, there’s no disputing the fact that grant money is available and it is being actively sought out by almost everyone.

More than anything, grant money is provided by government for the purpose of funding some project or another that would benefit a community or certain specialized groups. In fact, every year, Congress allocates about $67 billion in grant money for various kinds of projects. One of the government groups that benefit from federal grant money are public libraries.

Every U.S. city is expected to provide library or information services, along with essential services like fire and police. And for overhead, and ongoing day-to-day working expenses and operations, public libraries get their funding from grant money.

Yet, even with grant money available for their use, government funding has become more and more difficult to come by. For this reason, many public library trustees, staff, users, and friends have began to look beyond government grant money and towards private funding from corporations or individuals.

One of their top resources of grant money is the Association of Fundraising Professionals (AFP), considered as the chief professional association for fundraisers, and hence for grant-seeking professionals working across the spectrum of nonprofits. The association was formerly known as the National Society of Fund Raising Executives (NSFRE), but later on changed its name to what it is now. Their website at AFPnet.org offers sections on ethics, public policy, publications (including AFP’s online bookstore), professional advancement, local chapters, jobs, and youth in philanthropy (along with a member gateway/dashboard).

Besides that, the AFP also provides a list of certain organizations and their websites that are among the top basic resources of grant money for grant seekers in public, private, and academic institutions. Top on their list is the Foundation Center at FDNCenter.org, which publishes the revered Foundation Directory.

When it comes to best-known resource of grant money for the grant seeker or grant writer, the Foundation Center’s website certainly tops the list. The site offers a compromising grant writing database, a thorough search engine, and potent user interface. The site is highly developed and useful in your search for grant money. Fee-based areas enhance its utility for grant writers. Some entities spend even several hundred dollars a year just to maintain a subscription.

Although some of the Foundation Center site’s areas may cost money, the site’s overall utility is manifest. It provides a good place for almost any searcher to start a quest to find grant makers. Once at the site, one can click on links to the websites of foundations, corporations, individual and family trusts, and even those of other libraries and education entities.

Planning to start a business but no capital to get things started? No problem. One reliable source of funding for starting a business is grant money.

Unlike a loan, grant money for starting a business does not require you to pay back the amount. In fact, that’s the reason why many people refer to grant money as “free money” because it is, technically, free, though there may be obligations and sanctions imposed.

But grant money for starting a business is few and far between. In fact, when it comes to federally funded grant money for starting a business, the only reliable source you have is the CFDA or the Catalog of Federal Domestic Assistance at CFDA.gov. The site lists all the federally funded grant programs available for students, entrepreneurs, and other enterprising individuals.

A search through the Catalog will lead you to only two types of grant money for starting a business: one for rural businesses and one for minority business enterprises. And even for these, there are certain qualifications and requirements that you must comply with.

Rural Business Opportunity Grants

The Department of Agriculture’s Rural Business-Cooperative Service offers rural business opportunity grants on a project basis to promote sustainable economic development in rural communities with exception needs. Since the grant program gives a strong emphasis on helping existing businesses grow, eligible applications for the grant money for starting a business are public entities and nonprofit corporations that may in turn award money to the residents they serve.

Other eligible applicants for the grant money for starting a business include Indian tribes on Federal or State reservations or other Federally recognized tribal groups, and cooperatives with members that are primarily rural residents and that conduct activities for the mutual benefit of the members.

The Department of Agriculture imposes uses and use restrictions for the grant money. The funds may only be used to assist in the economic development of rural areas. You, as a grantee, can achieve this by providing technical assistance, training, and planning for business and economic development.

To apply, here are the credentials and documentations you need:

* Evidence of legal capacity
* Evidence of financial strength and expertise in activities, such as proposed in the application, sufficient to ensure accomplishment of the activities and objectives described in the application

Minority Business Opportunity Committee (MBOC)

The other grant money for starting a business offered at CFDA is the MBOC, run by the Minority Business Development Agency under the Department of Commerce. The purpose of the grant is to foster new minority business enterprises and maintaining and strengthening existing firms to increase their opportunities to participate and receive the benefits of our economic system.

Applications eligible for this program for grant money for starting a business are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.

Competitive awards for the MBOC grant money for starting a business are made based on a panel evaluation of the applications. This evaluation includes such factors as capability and experience of staff assigned to the project; techniques and methodology, creativity and innovation, resources and costs.

Are you tired of the day-to-day grind of corporate environments? Are you thinking about starting your own small business but worried about where to get your start up capital? If so, consider how grant money for small business can help you along.

But first thing’s first. What’s this you’re hearing about “free money” scams? A lot of people are saying that there’s no such thing as grant money for small business since government does not “give away” money so you can start your own for-profit business. In fact, government grants are often limited to community-based projects or those that would do the general public some good like research on a cure for cancer for instance, or something simpler like a street-paving project.

But to say that grant money for small business is nonexistent is a bit going over the top. Believe it or not, there are actually a lot of funders out there, besides the government, that are willing to provide you with funds so long as your project or your idea fits their funding objectives. The only problem is that while grant money for small business is out there, especially from the government, there’s often a lot of red tape involved. The key, therefore, is to remain dogged in your quest for seed money.

When it comes to grants, the first place that people often turn to is the Catalog of Federal Domestic Assistance, which is where all listings of government grants approved by Congress are announced. But the problem with this resource is that there are only very few grant money for small business programs available. And we all know that to increase our chances of getting grant money for small business, we need to increase the number of our resources as well. So, we can’t just depend on only one resource, the CFDA, for your grant.

A variety of local sources may provide you with the grant money for small business you need. Here’s all you need to know:

Dig Deep

Grant money for small business is often buried within other programs used as incentives to attract, retain, or grow small businesses such as enterprise and empowerment zones. As good starting points, consider incubators, universities, small business development centers, and business information centers, as well as your local chamber of commerce and professional organizations.

Consider Contracts

Government money can sometimes come in the form of contracts. “If you can demonstrate that your company can execute a budget line item, if you can shape part of your idea to what the government wants done for a particular project — say something educational or construction-oriented — if you can fill a need, you can compete,” says Francie Ward, CEO of the Business Owner’s Idea Caf

Grant money is a crucial part of funding for starting a new business. Although poor management is said to be one of the top reason that new businesses do not succeed, inadequate or improper financing is a close second. That’s why sufficient startup capital is essential, whether you are starting a new business or expanding an existing one.

When it comes to grant money for new business, government and organizations grants are always a viable option. Often, the purpose of government-funded grant money for new business is to aid in the development and finance of new businesses in all fields.

However, there are certain types of financial assistance that are better geared for some business than others. The factors that affect what kind of government assistance you need include type of business, location, future plans, and amount of financial aid needed. Knowing all this could help your bid or application for grant money for new business get quickly approved.

The Federal Government announces available grant programs in the Catalog of Federal Domestic Assistance (CFDA). The site, found at CFDA.gov, serves as an online database, containing listings of all available grants provided by the government.

But the problem with this resource is that there are only very few grant money for new business programs available. So unless your new business is aimed to develop rural business opportunities or is a minority business enterprise, you have very little chance of getting approved for grant money for new business.

On a another note, a variety of local sources may provide you with the grant money for new business you need. Here’s all you need to know:

Dig Deep

Most grant money for new business is buried within other programs. These programs are used as incentives to attract, retain, or grow small businesses such as enterprise and empowerment zones. To find grant money for new business, therefore, you need to look for this kind of programs and dig around to see if they are accepting or offering grant applications. A good starting points, consider incubators, universities, small business development centers, and business information centers, as well as your local chamber of commerce and professional organizations.

Consider Contracts

Government money can sometimes come in the form of contracts. “If you can demonstrate that your company can execute a budget line item, if you can shape part of your idea to what the government wants done for a particular project — say something educational or construction-oriented — if you can fill a need, you can compete,” says Francie Ward, CEO of the Business Owner’s Idea Caf

When it comes to paying for a college education, the biggest source of direct student aid is grant money for college. After all, the best money is free money, and while loans and scholarships make up more than 50% of student aid, grant money for college are widely preferred because you don’t have to pay the money back.

The qualifications for grant money for college, however, can be very strict. Unlike in loans and scholarships where money may be awarded based on your credit standing or merit, grant money for college is usually based largely on need.

The Free Application for Federal Student Aid Program under the Department of Education even has a specially designed formula to determine whether or not the student is in dire need of financial assistance from the Federal Government for his education. Grants aren’t just given to anybody; you will have to prove that you or your parents do not have the means to support you in college.

In addition to the economic restrictions, grant money for college is often parceled out on a first-come, first-serve basis. Government funds are limited and you certainly cannot expect government to fund every student in need that comes their way. So late applicants will have a lesser chance of winning a grant from government since all the money reserved for student aid would have been given to earlier applicants. That’s why it’s very important to apply early for financial aid and be aware of any available grants that might help lower your overall college contribution.

Below are the basic types of grant money for college:

Federal Pell Grants

Considered as the largest grant money for college program, Pell grants ranged from $400 to $4,050 for the 2004-2005 academic year. These grants are based solely on need. The entity who will determine the student’s need will be the college of choice but with the use of guidelines that have been previously approved by the Federal Government.

Eligible colleges receive a fixed amount of Pell money each year, and many students apply for a grant every school opening. The grant money runs out pretty fast and once it’s gone, it’s gone. So if you want to win a Pell grant for college, then apply for aid early.

Federal Supplemental Education Opportunity Grants

The grant money for college you receive from one grant may not be enough to support all your expenses. That’s why the government is offering the Federal Supplemental Education Opportunity Grant Program. This grant program is reserved for the neediest of students and may supplement your grant money for college with amounts ranging from $100 to $4,000. Like Pell grants, you may apply for this grant through your college’s financial aid office.

State Grants

Most states have some kind of free money program, based on need, targeted to encourage study in certain areas, such as teaching or nursing. The State of California, for example, has 3,000 Cal Grants for future teachers. The grant comes with certain obligations, such as in the case of Cal Grants, the grant money for college must be repaid if the student doesn’t end up teaching in low-income area for at least one year for every $2,000 received.

The art and science of apply for grant programs is called grantsmanship, and you can be assured, that it’s no walk in the park and no stroll on the beach. Grant applications take a lot of skill and a lot of effort on your part. It may even cost you money and time.

There are many things you ought to consider during grant applications. Below are some of them:

Make a difference in the world.

That is the point of grants after all. Keep this in mind even before you approach that agency and apply for a grant. Make sure that your project is something that is going to help them do that. Your grant application should be in consonance with the overall goal of your prospective funder.

Know the specific goals of your funding source.

Alright so the general goal is to make a difference, but you also need to know the particulars for grant application. Ask them. They will be all too happy to tell you.

Also, you can ask them if they give funding to your local area. It is possible that some of these agencies provide free grants to entrepreneurs operating in a particular area. If you are one of these entrepreneurs, you stand a better chance at getting a local grant than a national one.

Plus, the agencies may also tell you what institutions they fund for. This kind of information would be a great help in your grant application.

Know the person who will be looking over your proposal.

Is he a person who knows nothing of your field? Or is he someone who knows a lot about your field and what is going on? If they know nothing about your field, you need to stay away from technical information that they may not understand. Write your grant application to their level of understanding. If they know your field, then it is acceptable to use more technical definitions. But the rule should always be to write simply. Use jargons only when absolutely necessary.

Know your fund source.

It will help you to know how to sound and feel in your proposal. Always back things up with facts and a clear understanding of the need for the funding.

Prepare a budget that is easy to read and clear on what it is you want to do.

Be as detailed as possible in your proposed budget. Always fully explain everything that is going to cost and include other match funding from other organizations. This is to allow your funding agency a clear picture of what your proposal entails.

At all cost, never ever slop together a proposal and hope for the best.

It never works and they see this right away. In fact, the proposal is already half of your grant application, and it is the one half of which you have control over. Don’t mess it up.

Do not spend a lot of money going all out on the presentation.

It almost never impresses the funding agency. Never sacrifice the content of your proposal for style of the presentation. If you must spend money, spend it on the amount of planning you need for the project, not on mere presentation.