Did you know there could be grants available for you to utilize in your business or real estate project? How are grants helpful for your business or project? They allow you to get funds at more favorable terms than with a loan or credit card. It allows you to have a more diversified capital stack. The owner is required to give up equity in order to receive these funds. You can secure additional funding through pairing it as matching funds. But most importantly, they do not need to be paid back.

Funding Sources:

• Local Government/Municipalities
• State Government
• Private Foundations
• Federal Government
• Family Offices
• Corporations

When applying for a grant, ensure you have an understanding of the details such as eligibility, your project readiness, the purpose, funding amount, areas of funding, limitations and deadlines for the application.

The prime candidates for a grant are 1) those developing a real estate project or physical space, 2) scaled non-profits and 3) certified non-minority owned businesses.

Ensure you are able to provide the following documents before applying for the grant:

• Show site control through documentation
• A project description or business plan
• Conceptual drawings or renderings of the physical space
• Professionally prepared budgets for the company and project

What does the grant application process look like?

1. There will be a consultation and assessment to determine your business goals, strategies, etc.
2. Research to identify the grants that are most aligned with your goals and strategies.
3. Preparation of documents using a checklist to simplify the process.
4. Application submission.
5. Follow up with you, the client for clear compliance and reporting expectations once a grant has been awarded to you.

Here are a few resources for accessing grant funding:

• Grants.gov
• USA.gov/Grants
• National Institute of Health
• Small Business Administration - Grants

Have you utilized grants in your real estate portfolio?