 TITLE: What Is the Difference Between a Grant and a Business Loan? CONTENT: How to Decide Which Is Best for You\n-----------------------------------\nShould you apply for a loan or a grant? You might be a good candidate for a grant if:\n*   **Your business benefits your community or society.** For example, do you provide arts education in low-income communities or hire formerly incarcerated people?\n*   **You aren't in urgent need of money.** Finding and applying for grants can take a long time. Many grants are awarded annually; if you miss the application deadline, you'll have to wait until next year.\n*   **You're willing to accept the grantor's restrictions.** Be prepared to follow the granting organization's rules, such as regularly reporting on your progress or participating in publicity campaigns.\nA loan is probably a better solution if:\n*   **Your business is profitable and has good financials.** If you can demonstrate ability to repay the loan, you'll find many more options for loans than grants.\n*   **You need money fast.** You can apply for a loan whenever you want and often get money right away, depending on the lender.\n*   **You want to control how you use the money.** There are loans for different purposes—for example, working capital or real estate—but overall, you have more freedom in using the money than with a grant. END