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Tips and Advice on How to Apply for a Grant

By: Jennifer Lowe - Updated: 6 May 2017 | comments*Discuss
 
Applying For A Grant Applying For A Loan

Securing funding for your new, or small, business is very important and getting the application right will play a big part in whether you are accepted.When you apply for a grant or a loan, you tend to do it through an organisation such as a bank or institution, but the information you are required to supply will be pretty much the same regardless.

The first thing you will need to ensure is that you meet the criteria outlined by the organisation for the grant or loan in question.

Many organisations require you to provide an explanation of what the grant money will be used for. This is often referred to as a project proposal, and will outline everything, including the project's aims and a time scale as to when you will achieve them.

The one thing that these organisations are looking for is a well planned business model, which will be shown through a good business plan. It is important that this is readily available to them during the application process as a way of proving that your business is one worthy of their funding.

Dotting and Crossing

As well as the above, you will also have to fill in an application form supplied by the organisation you want to receive funding from. You may also be required give a personal presentation, although this usually only applies to larger loans or grants.

This would require you attending a personal interview where you will talk through your business plan, your targets and overall business objectives.

If you have chosen to apply to the Small Firms Loan Guarantee scheme then the process is slightly different, even though the application is made to a lender.With this process you don't need to supply a project proposal, although you will need a business plan.

Grants provided by the Small Firms Loan Guarantee scheme offer security on 75 per cent of the loan. However, you must bear in mind that the decision as to whether to lend to you, or not, comes from the lender as it is them who are providing the remaining 25 per cent.

There is a wide range of qualifying criteria that you will need to be aware of when applying for funding through the scheme. Eligibility is generally restricted to businesses that have been operating for less than five years and those with a turn over of less than £5.6 million per year.

If you have adverse credit you can still apply for a Small Firms Loan Guarantee, however, lenders will check that any outstanding issues have been satisfied and that your business is financially healthy and provides suitable means of repayment.

When the time comes to actually apply to the scheme for funding it is important that you check what is being offered. Most of the major high-street business banks, such as Barclays, Lloyds TSB, the Royal Bank of Scotland and HSBC, offer access to the scheme.

There are around 23 high street business banks and commercial lenders that will lend money as part of this scheme and the best way to get the best deal is to shop around.

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Lin - Your Question:
Last September I lost my job,a few weeks after that my husband lost his.Last October our insurance refused to fix a hole in the roof citing wear and tear,this resulted in the ceiling of my daughters room collapsing onto her bed.We have been unable to fix either the roof or her ceiling.Our daughter has PTSD and has been having weekly sessions at Alder Hey since June 2016. She is unable to leave the house unattended and then only by car.Her safe place is her room which now has a huge hole in the ceiling.Her window is also rotted so rain just pours in.There are often pools of water in her room and chunks of ceiling still drop into her room.We have moved her bed but it is still a health hazard.If there are any home improvement grants that could help,could you please recommend them?

Our Response:
Try the Turn 2 Us website which has a grant search facility. You could also ask you local Citizens Advice for details of grants in your area. Universal Credit is another payment you could apply for there is more information at the money advice service
GrantsExpert - 8-May-17 @ 11:42 AM
Last September I lost my job,a few weeks after that my husband lost his.Last October our insurance refused to fix a hole in the roof citing wear and tear,this resulted in the ceiling of my daughters room collapsing onto her bed.We have been unable to fix either the roof or her ceiling.Our daughter has PTSD and has been having weekly sessions at Alder Hey since June 2016. She is unable to leave the house unattended and then only by car.Her safe place is her room which now has a huge hole in the ceiling.Her window is also rotted so rain just pours in.There are often pools of water in her room and chunks of ceiling still drop into her room.We have moved her bed but it is still a health hazard.If there are any home improvement grants that could help,could you please recommend them?
Lin - 6-May-17 @ 12:46 PM
Hi. I was wondering if you could point me in the right direction to apply for a grant to renovate a house abroad. It in national Trust reserve and we would like to restore it and keep many beautiful original features. the purpose of the house would be to turn in in to a holiday rental home so people can enjoy beautiful sources and surroundings in the local area. the house is in Poland and we are looking to start the renovation soon. Thank you for your time.
Ewelina - 19-Apr-16 @ 11:33 AM
I wonder if you could point me in the right direction to apply for a grant to open a florist shop in central square Erdington. Central square is due to be regenerated and I would like to be part of this exiting project. I hope to create a job for one or two individuals offering floristry service catering for weddings, funerals and celebrations. I want to provide a service for the general customer walking in from the street, offices, funeral directors, wedding planners etc also selling house plants and vases and other accessories. I would like to put some tradition and colour back into the community helping to improve people's shopping experience. I have looked at a shop premises and it is right next door to a greeting card shop and in close proximity to three funeral directors. Ihave also completed my business plan. I would be great full for any help and advise on where to apply for a grant. Many Thanks.
matrix66 - 10-Apr-16 @ 10:49 AM
Jake - Your Question:
Good Morning,I wonder if you could give me some information or point me in the right direction of where to find information please.Can funding/grants be applied for the removal of asbestos from a Grade II listed building?Any help or advice would be much appreciated.Kind regardsJake

Our Response:
Check first with your local authority where any asbestos removal grant information will be available. Note that there are not many grants for removing asbestos nowadays. Historic England might be a resource for listed building asbestos removal.
GrantsExpert - 2-Oct-15 @ 12:24 PM
Good Morning, I wonder if you could give me some information or point me in the right direction of where to find information please. Can funding/grants be applied for the removal of asbestos from a Grade II listed building? Any help or advice would be much appreciated. Kind regards Jake
Jake - 30-Sep-15 @ 9:05 AM
I live in Marsham NR10 5RA and was wondering if you knew of any charitys that could help me out.My son is 9 years old and would love to join in with a school residential trip next July which costs £220.I have asked various charitys and can not find one which covers our area. Any help with this matter would be greatly appreciated. Many thanks Amy Kemp
Amo - 29-Sep-14 @ 11:48 AM
Hi, I have a business in mind that can give employment to the blind, I could help them to be self sufficient and would like to donate some % of my profit to some blind organisation . Please i would like to know if i can get some grant to start a venture like this and whom should i contact . many thanks
ruply - 15-May-13 @ 10:04 AM
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