Can my business get more than one grant at a time?

Many entrepreneurs and executives who are new to the world of government grants and incentives wonder if they can receive funding from more than one program at a time. Fortunately, the answer is yes. Here are a few considerations before you start applying.

What do grants fund?

Grants and government incentives provide funding for projects, not general business operations. This means that your business can receive funding for any number of projects it is undertaking. Examples of projects that tend to attract funding include  

Can I receive more than one grant for the same project?

Many businesses successfully receive both federal and state grants for the same projects. The only thing to take into consideration is if a program has what is called a “stacking limit.” The stacking limit will dictate how much funding a project can receive in total from all government sources combined. For example, under an 85% stacking limit, a company could receive 50% of its total project costs in federal funding, 35% in state funding, and 15% from its own internal budget or a loan.

Should I only apply to one grant at a time, just in case there is a stacking limit?

No – Fundingportal’s experts agree that applicants maximize their outcomes by applying to at least three grant programs at a time. Certain applications may be rejected, while others may take weeks or months to process. Applying to several programs at once increases your chances of getting funding. In addition, government funders generally welcome the news that another agency is investing in your project – this “de-risks” the project for them, because they need to provide a lesser percentage of the total funding.

How do I find the right grants for my business?

Subscribe to Fundingportal today to get started.

 

Fundingportal

Fundingportal

Fundingportal leverages innovation to help businesses, nonprofits, and municipalities like yours to get grants and funding.

Read Previous

Call for Proposals Opens for Community-based Projects for Seniors

coding4pro honey homes
//