Federal vs Private Grants
There are two major grant categories to look out for when applying: federal and private grants. These categories are distinct and may favor certain types of businesses over another.
Private grants, which are frequently awarded by foundations and private donors, are typically smaller in value. Private grants are often awarded quicker and have less applicants overall. These grants are often more niche, which may involve additional requirements for applicants. There also may be less administrative support or information involving how to correctly apply for the grant.
Federal grants are often much larger in value and more competitive. Since federal grants can often cover the entirety of one's funding needs, they are highly sought after, which demands an even more compelling grant application. While federal grantors typically have more funding available and thus can give out more grants, the competitive applicant pool can easily offset this. The process of applying for federal grants is often much longer and detailed than that of private grants.
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