GRANTS
Grant... What is it?
A grant is a quantity of money, i.e., financial assistance, given by a government, organization, or person for a specific purpose. Unlike a loan, you do not have to pay back the money.
Advantages
1. The money is like a gift, i.e., you will not have to pay it back. In some cases, students who do not attend the minimum number of lessons or abandon a course might have to pay back the money.
2. You will not lose any control over your company or organization. You will not, for example, have to sell company shares and subsequently lose some ownership of your business.
3. In most cases, your credit history will not affect your submission’s chances of success..
Disadvantages
1. You need to find one that suits your specific needs – this might not be easy.
2. Many people, companies, and organisations apply for grants, i.e., competition is fierce.
3. Grants do not usually cover the whole cost of a project. Therefore, you will need to use your own money to fund some of it.
Understanding Types of Grants
If you're in charge of seeking funding for a nonprofit, it's important for you to be aware that there are several different types of grants from various funding sources. When you apply for grant funding, it's important to understand the intent of the grant program so you can ensure that your application makes a clear case for why your request should be approved.
1. Project or Program Grants
Funds that are granted to support a particular activity of a nonprofit organization are referred to as project or program grants. These types of grants provide money that is earmarked to cover expenses associated with specific activities carried out by a charitable entity.
2. General Purpose Grants
Some grant programs offer general purpose financial support, providing monies that can be used as the funded organization sees fit. If you are fortunate enough to receive this type of grant, you'll be able to utilize the funds for operating expenses, programs, projects, planning, or to meet any other need that the entity you represent may have.
3. Start Up Grant
If you are looking into the possibility of starting a new charitable organization, you'll want to apply for start-up grant funding. These types of grants provide what is often referred to as "seed money" designed to help a new entity get started. Funds may be provided for a year or two, after which time the entity is expected to be self-sustaining, either through its own activities or through other grant programs.
4. Facilities and Equipment Funding
Some types of grants provide support specifically to enable charitable organizations to build and maintain the facilities necessary to provide programs and services, as well as to purchase needed equipment. For example, these types of grants might cover all or part of the expenses for constructing a new building or purchase equipment to outfit a computer lab for an after school program..
Read More...
1. Local Government advertises invitation for empowerment Grant submissions
2. Cooperatives, Clubs, Associations and Organised Groups apply using APPENDIX D Form
3. Application forms must be typed or filled in a clear handwriting
4. Application is submitted to Ward Development Commitee
SELECTION CRITERIA
Applicants
1. Must be a Woman and/or Youth
2. Must be a Coopperatives, Clubs, Associations and Organised Groups with minmum of ten (10) members
3. Proof of a bank a account or mobile wallet
4. Proposals should provide employment oppertunities
5. The proposed project should be undertaken within the Constituency
6. Must have been residents in the Constituency for over 6 months
DOCUMENTS FOR EMPOWERMENT LOANS
Applicants/prospective beneficiaries must posses
1. Avalid certificate of the entity from PACRA, Registrar of NGOs, ZAMBIA AGENCY FOR PERSONS WITH DISABILITIES, Registrar of Cooperatives, National Youth Development Center or other Registration Bodies;
2. Green National Registration Card
3. A letter of recommendation from a Civic Leader, Religious Leader, Traditional Leader, Commissioner of Oaths or Bank Manager
4. Proof of a bank account or mobile wallet registered for the group
NOTE: Empowerment funds cannot be accessed by anyone in formal employment
