Grants invoke many questions. The sheer amount of misinformation presented on television and published on websites makes it hard to separate fact from fiction. When considering government grants, it’s important to separate the hype from the true surrounding the grant programs.

What is a federal grant?

A federal grant is money offered by the government that comes with certain terms and conditions. The federal government might offer the grant directly, or the funds might be distributed first to a province or city for disbursement. Unlike private, corporate or professional grants, a government grant is not necessarily paid from the originating entity. The grant can be offered directly from the federal government, or might be sent into the state government or various government entities to be offered to individuals.

How much money can I receive in a grant?

Grants can be awarded for a few hundred dollars to hundreds of thousands of dollars. The design and purpose of the grant funds determines the amount of the final award. For example, the grant awarded to pay for college books in a single semester will be far less than the grant awarded to start a women’s shelter in an expensive inner city. However, by combining multiple grants, you can increase the total amount of funds received so long as you continue to meet the criteria for each grant program.

Are grants really free money?

Yes and no. Grant money is offered without the terms of a loan. So long as you do what the grant requirements ask of you, you don’t have to pay the money back to the originating entity. For example, if you are awarded a grant to restore a home and make it energy efficient, but use some of the funds to visit Hawaii, you will likely be required to pay those funds back out of pocket. You might even risk losing the grant depending on the terms of the award. However, if you use the funds as indicated in the grant write-up and your application, the money can be considered “free” as you are not required to repay the funds.

Are there grants for women?

Absolutely. Women can apply for any grant open to all applicants, but distinct opportunities apply for women and additionally women of color. Women of color have the greatest opportunity to secure a grant as there are many opportunities available based on socio-economic status.

How do I repay a grant?

In an ideal situation, you won’t need to repay a grant. The grant is money given to you for a specific use. So long as you use the funds in the way you were instructed when they were awarded, you don’t need to repay the grant funds at all. If you are not able to meet the requirements, contact the originating body about the terms for repayment. You might be required to return the grant funds in a lump sum, but many programs allow you to pay the grant money back over time.

How do I find grants?

Grants are available any number of places. Federal grants are available through many different areas of the Canadian government website. Private, corporate and professional grants share relevant information in professional packets and websites. Specialized grant programs keep track of grant opportunities and seek out new possibilities to condense the offerings into a clear, comprehensive resource. A grant program makes it simple to find the opportunities most suited to your particular situation.