How to Apply for a Grant to Fund your Business
Learn some useful tips on how to apply for a grant to fund your business. We cover some important information in drafting your grant application.
There are various grants and funding available from NGOs, the government, banks, celebrities, etc. But before you jump into going for any fund, you need to be sure that your proposal is ready.
A good proposal will definitely get attention from the individuals and groups offering grants or fundings.
We share some helpful tips in this post to guide you in drafting a good proposal before proceeding to apply for any grant.
Have a good project or business plan title
The first impression you make to your donor when applying for a grant is with your project title. A good project title is usually very brief while explaining the who, what, where, of the project or business. A good project title will surely get the donors’ attention and make your proposal unforgettable.
Add a short executive summary made specifically for the donor
A good introduction or executive summary draws a road map for the donor and also highlights the most important pieces of information in the proposal. the summary can vary in length from a couple of lines to one full page but ensure it fits on the same page.
This part should summarize the project or business you intend to use the funds for, but even more importantly it should state any requirements the specific donor wants. For instance, if the donor wants the funds to focus on issues of child molestation, then your introduction has to fit into that requirement.
Save your profile information for the end
Donors are most often focused on the project you intend to embark on, as well as its beneficiaries. As tempting as it may be to want to include your profile at the beginning of drafting your proposal, it is best to save that information for the end.
When including your profile or information about yourself at the end of the proposal, ensure that you make it very brief.
Include the focus for your project
Take out some time to explain the importance and necessity of the project you wish to embark on. The donor will not understand the difficulties the beneficiary is going through, so it is important to highlight those to paint a picture in the mind of the sponsor. You can use case studies, stories, and research to achieve that.
Branding is important
To create a memorable proposal or application, branding is important. Do this by adding a cover page, logo, picture, website in the footer, etc if you intend to stand out amidst the competition.
Even if you do not have a logo or website, a simple and consistent color scheme can suffice. You can equally include images from past projects.
Microsoft Word offers a variety of themes, templates, and color palettes to get you started if your designing skills are not so good.
Include your contact information
The whole point of sending a proposal for a grant is for the sponsor to get back to you with good news. Including your contact information is important. If necessary, you can provide more than just one means of getting in contact with you. You can include your phone number, email address, or even your social media handles.
Ultimately, only include channels of communication that are relevant to the donor so your proposal doesn’t look cluttered.
Review the donor guidelines
A lot of proposals are rejected majorly because the applicants did not follow the guidelines stated in the advertisement. To ensure that even after drafting your proposal, before submitting, go over the donor guidelines to be certain you meet the donor’s requirements.
Check for spelling and grammatical errors
Double-check your written proposal to be sure there are no spelling errors or mistakes. No one would want to read a proposal that isn’t properly written. You can use the Grammarly application to check on what you have written to be certain it is free of errors.
Do leave a comment below if this post was helpful.
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