Find out how you can get free grants for your small business Have a revolutionary idea that will change the way the world works? In that case, federal grants will be the seed money that your idea needs. Most business owners refer to these grants as “free money.” That is because unlike a traditional business loan, you will never have to repay a grant. Which is why, businesses that secure these grants do not have to worry about interest rates, refinancing, APR, or term length. Apply for the grant, get qualified, and receive your free money. It is this simple. Or is it? No doubt, small business owners like you want to get federal grants so that they can unleash their entrepreneurial spirit—but securing these grants is not that simple. Understanding small business grants Small business grants offer your enterprise or idea free money that will help it thrive. But getting a business grant needs you to fulfill two big conditions. First of all, small business grants get quite specific about the way the received money should be spent. Second, it is an uphill battle for your idea or business to get qualified for free grants for small business. That means you cannot have any business and expect to get the grant. Rather, your chances of getting these grants will increase if your enterprise belongs to high-tech or R&D fields and contributes to the country’s economic growth. Or your business should further a very powerful social cause—conservation efforts, medical research, or scientific work—that is recognized by the federal government.