The Government Gave Me Grant Money! Do I Have To Pay It Back?
Posted by: Grants Expert In Government grants for women
Are There Strings Attached?
A business loan, no matter how favorable, is something you will have to pay back. A government grant is usually not something you will have to give back, unless you fail to comply with the stipulations of the project.
What does that mean?
Every grant is given for a certain project or in order to facilitate research. Depending on the project for which the funding is prepared for, you will have to comply with the requirements, in order to justify spending the funds you have received. If you prove that you have done as you have been assigned to do, then you will not be required to pay any of the government grant money you have received.
Grants Are Different From A Loan
A loan may be given with a purpose attached to it, like when you are taking up a loan to finance your equipment that you need to do business; at some point you will have to provide the loaning entity with the pertinent receipts.
A government grant comes attached to a project that is being financed by that money and you will have to do the project for which you receive the funds.
Unfortunately, some projects require that you participate with some funds of your own, or that you provide other necessary items, perhaps certain equipment, or a certain degree of education.
Whichever grant you finally wind up with, if you have done as agreed with your project agreement you will not be required to pay the grant back.
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