Grant applications are another type of service offered by BPL Experts. Those are a type of business plan, and have their own set of criteria and requirements that need to be addressed in order for the application to be approved. In this article we will be discussing those nuances in some detail. As with all articles, this one will be styled in a Q&A format as well, addressing the most commonly asked questions on this topic.
Question: Grant applications and business plans for grants seem to have a lot in common with government bids. How are those two applications different?
Answer: Despite the common trait of both types of applications having to do with the government, those two types of applications are altogether different.
- Government Bids are programs that allocate funds towards projects in your industry, essentially hiring you as a contractor for a project. Read more about it in the “Government Bids” article.
- Government Grants allocate funds directly to the business in order to stimulate their growth. This is not going towards a public project, or service. The money is given to a business to help it succeed.
A business, in this case, does not respond to a call for a project, but rather has to submit its own plan and show how the enterprise will contribute to the community. An application has to be filled out, with all the necessary additional documentation attached. The enterprise will have to fit the specific criteria that increase the chances of being chosen towards approval. Since this is actually a business, you will both get the deliverables from us in the form of a plan, and a copy will be sent with the grant application.
Question: What if the application form does not specify that a business plan is necessary? Would you still advise to have one written?
Answer: Any and every type of government funding program will require an outline of your operation. The more detailed, the better. Remember, there are other entrepreneurs that are applying for that same funding. Your application will only benefit by having a wide research base, solid corporate structure, intended client pool and reliable profit projection. Showing that you have done your homework will mean, for the government officer, that the money will be invested well and will not go to waste. Allocation of taxpayer money is a serious responsibility and they want to know they are using the funds well. Furthermore, as is the case with all business plans, it will benefit you after getting the funds, by being a road map for you to follow in order to make your business successful.
Question: How much does BPL Experts charge for this service? Is there a separate fee for the application and the business plan or is it a package? Doe the price for the service depend on the type of grant we are applying for and the sum of the money being requested?
Answer: In the case of government grants applications, we will charge a deposit towards your application’s services fee. Once the application is complete, then we will charge the rest of the balance. If we are talking about government financing, then we will charge a success fee only. The reason for this is that government financing is allocated through local lenders and we will be able to make a preliminary analysis of whether it will be approved.
We hope this helped shed some light on the issue of government grants and will help your application. With any questions that were not covered in this article, call BPL Experts and we will be happy to assist!