Your go-to guide for understanding grants
Grants can be intimidating if you don’t know all the ins and outs. But after reading about the basics of grant funding and checking out the Pocketed Grants 101 guide, you’ll be all set to secure that juicy grant! One big tip to remember: Pocketed has everything for you under one roof!
Grants are basically free money
Grants are kind of like a gift from the government. You have to go through an application, reporting, and reimbursement process to access the funding — but unlike a loan, there’s no repayment involved. This can help your company quickly scale without worrying about accumulating debt. Take Pocketed for example; we are grant-funded and #proud!
Grants are non-dilutive
Dilutive funding requires you to give up a piece of your company to access financial resources. An example of dilutive funding is if you were to sell a share of your company to investors. Luckily, here at Pocketed, we prefer you own ALL of your business. After all, you worked so hard to get where you are! And, since grants are non-dilutive, our grant platform allows you to access all of the non-dilutive funding you can imagine.
Grants are reimbursed funding
Reimbursement is the repayment of incurred costs. This means that you have to have the money to fund whatever you are applying for (new hires, market expansion, etc.) at the ready. No grant will give you cash upfront, but they will reimburse you afterward! Don’t have the money upfront? Have no fear! Pocketed’s grant-based financing can help you finance your grant. See, we really do have everything!
Grant writers can help you apply
Grant writers will usually take care of the application, writing, and reporting process of a grant. This means if you have a long, daunting application in front of you for a grant that you desperately want – it might be worth looking at hiring a grant writer. How much you’ll pay depends on the service provider, but many grant writers will take a cut of the grant once secured. Others will charge upfront, especially in the case of applications that will take a lot of time and effort. But where do you hire a grant writer from? That’s easy! Pocketed has a form on our website to get you connected with the best grant writers available. Are you a grant writer looking to partner with Pocketed? We have a form for that too!
Finding grants shouldn’t cost you money
Pocketed’s website allows you to be connected with grants that apply to your business at no cost. We do the work and you get the $$$! Who doesn’t love that?
There are five main types of grants
There used to be only four main types of grants — research and development, hiring, training, and market expansion. Now, there are five, because of the inclusion of COVID-19 recovery grants. A research and development grant (a.k.a. R&D) is for when you have a product or service you want to launch but you need funding to help offset the costs of development initiatives. Hiring grants help you grow your team by funding employee recruitment and salary expenses. Training grants are for when you need to fund retraining or development initiatives for your current staff. Market expansion grants help you to expand your business into new markets. Your competition better watch out because business growth is made much easier with these grants! COVID-19 recovery grants are the newest type of grants. They help businesses that have been impacted by COVID-19 to build their businesses back up.
Watch those deadlines
It’s good to keep an eye on deadlines. If there’s a deadline for a grant, mark it in your calendar to stay ahead of it. Don’t let great grants get away from you! Some grants are first-come, first-serve, so you’ll need to get those applications in as soon as possible if you want the best chance at securing that funding.
Finding applicable grants is easy
Guess what? You don’t have to go searching the internet for grants that apply to you until you’re falling asleep on your keyboard… In a matter of minutes, you can sign up to Pocketed and be matched with the grants of your dreams!
Haven’t had a chance to create your account just yet? Our waitlist is filling up fast, so get your organization’s name down today so you can easily access all of the available Canadian grant funding tomorrow.
