Free Money, the ads shout. They continue to assert that there are millions of free government grants available just for the asking. Hold on, don’t waste your money on these promotions. The information is often misleading, has hidden cost and you can find the information you need for free.

Every day the government announces new grant programs. A grant differs from a loan in that the money does not have to be paid back. But there is an enormous amount of paperwork involved in applying for the money, spending the money if you are selected as a grantee and there will be a final accounting for the funds. Often government funding does not require non-profit status.

It is often easier to hire a grant expert rather than to spend the time searching for your self. Beware of the free or low cost searches. Very often the fine print or the terms of agreement state that you are signing up for a monthly fee.

You won’t even know until your credit card starts getting charges. Look for grant professionals who tell you your costs up front. Be sure that you know what you are getting. For example: at Funding Success we charge a set fee for a grant search of $ 150 and guarantee that you will be happy with the results or your money back.

Once you start searching for federal funding, you will notice that many of the grant applications are for very specific bequests. Funding for first year neurosurgeons, for example. Others need not bother to apply. What many of the books and informational products sold have done is to copy the federal registry word for word and print it to sell you.

The information is free on grants.gov. Put in a search for the kinds of project you have in mind and the results will come to you.

Applying can also be accomplished on line. You may find that hiring a grant coach can speed your search, save you time and help you in writing a winning proposal.

If you are looking for state funding go to the appropriate state department website and look for a link for grants or funding. Contact your state to see if there are mailing lists where you can receive the information as it is announced.

Federal funding requires that you register on grants.gov . You will need a Dun and Bradstreet number. Follow the registration link and it will walk you through the process. Check your state sites and make sure that you have all the required identification completed. Both non-profits, for profits and individuals will need to follow these requirements.

Not looking for a grant but in need of funding for your businesses then check the availability of Angel Investors in your state or field. Or contact the Small Business Administration for loan opportunities.

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