Grant

A grant is a sum of money awarded by a government, organization, or foundation to support a specific project, research, or initiative. Unlike a loan, it generally doesn't require repayment. Grants are typically given to foster progress in areas like education, healthcare, arts, or community development. To receive a grant, applicants usually submit proposals explaining their goals, plans, and how they will use the funds. Once approved, the grant provider disburses the money, often in stages, contingent on meeting established objectives. Grants enable organizations to undertake projects they might not otherwise afford.