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How to Get Money From the Government: Grant and Loan Resources

Steven Walters Updated: June 27, 2023 • 6 min read
government money

Getting monetary help from the government can be extremely useful if you're trying to make ends meet, whether for your personal finances or for your business. In this article, we'll break down the different ways you can get financial assistance from the government, including government grants for personal and business use. Whether you're trying to pay for college, a small business owner looking for funding, or an individual needing access to cash, understanding the various options available can help you make informed financial decisions.

5 Ways to Get Money from the Government

There are several ways to get money from the government:

  1. Apply for government grants for personal use. These grants can provide free money for various purposes, such as education, home repairs, or even starting a business. Individuals are required to meet specific criteria to qualify for these grants and demonstrate how they plan to use the funds.
  2. Get money from the government for funding for a business venture or expansion. Many government grants are available for entrepreneurs and small business owners, providing funding for research and development, marketing, and other expenses.
  3. Apply for free government loans, which offer an alternative to traditional lending. These loans can help cover the costs of education, housing, and other expenses and don't require collateral or credit checks.
  4. Small businesses can benefit from government loans specifically designed to help with funding and growth. These loans often offer low-interest rates and longer repayment terms, making them a more affordable option than traditional bank loans.
  5. Credit unions or online lenders often offer private loans and can provide financing for various purposes.

Let's take a deeper look at each method below.

1. Government Grants for Personal Use

Personal government grants are funds the government provides to individuals to support various needs, such as education, housing, health care, and other personal expenses. Unlike loans, government personal grants do not require repayment, making them a desirable option for those needing financial assistance.

Eligibility criteria for personal government grants vary depending on the specific grant. Generally, individuals must be:

  • U.S. citizens or permanent residents
  • Demonstrate financial need
  • Meet specific requirements related to the grant's purpose. For example, education grants may require individuals to have a certain GPA or enrollment in a specific program.

If you're wondering "how can I get free government money", you might want to know that many types of personal government grants are available, including grants for education, home repairs, health care, and more. Some examples include the Pell Grant for college students, the Low Income Home Energy Assistance Program (LIHEAP) for home heating and cooling expenses, and the Weatherization Assistance Program for home energy efficiency improvements.

The application process for personal government grants typically involves completing an application and providing supporting documents, such as income statements, tax returns, and other financial information. The application process can vary depending on the grant. Therefore, individuals should carefully review the requirements and deadlines for each grant.

By researching and applying for available grants, individuals can potentially receive free government money to support their needs and goals.

government grants no repayment

2. Funding Your Business with Government Grants

Government grants are funds the government provides to support various needs, including business ventures, community projects, research, and other initiatives. Unlike loans, government grants do not require repayment, making them a desirable option for those seeking financial assistance.

To find the right government grant for your business:

  • Research available grants and their eligibility criteria. Consider your business's goals and needs, and look for grants that align with your objectives. Some good resources include Grants.gov, the Small Business Administration, and state and local government websites.
  • Prepare your application. First, ensure you meet all eligibility criteria and have all necessary supporting documentation. Next, review the application instructions carefully and follow them closely. Finally, highlight your business's unique qualities and how the grant will help you achieve your goals.
  • Consider partnering with other businesses. Oftentimes, this can create a stronger proposal. You can also seek feedback from colleagues or mentors to help refine your application.
  • Submit your application before the deadline. Follow up with any required documentation or additional information.

Government grants can be a valuable source of free government money to support your business. By carefully researching available grants, preparing a solid application, and following up as needed, you can increase your chance of success to secure the funding you need to achieve your business goals.

3. Free Government Loans for Individuals

Several types of government loans are available for individuals needing financial assistance. However, these loans are not typically free government loans, so they don’t satisfy the question of “how can I get free government money." Instead, they come with lower interest rates or more flexible repayment terms than private loans. They include:

  1. One common type of government loan is the student loan, typically used to pay for college or vocational training. Financial need is the primary factor considered when determining eligibility for student loans.
  2. Another type of government loan is the small business loan, available to entrepreneurs and small business owners who need funding to start or expand their businesses. Eligibility for small business loans is based on factors such as creditworthiness, business plan viability, and the size and type of the business.
  3. The federal government also offers loans to individuals buying or renovating homes through programs like the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA). Eligibility for these loans is based on factors such as income, credit score, and military service history.
  4. Individuals affected by natural disasters or other emergencies may also be eligible for government loans to help with rebuilding and recovery costs. These loans are typically offered through the Small Business Administration (SBA).

It's important to know that each of these government loans have specific eligibility criteria. To ensure you fit the bill, visit the websites of each relevant government organization to learn more.

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4. Government Loans for Small Businesses

The Small Business Administration (SBA) loan program is a government business help initiative that provides financial assistance to small businesses in the United States. Although there are no free government loans for businesses, the SBA offers loans with low-interest rates and longer repayment terms than those from private lenders.

The SBA offers several types of loans, including the 7(a) Loan Program, which provides funding for general business purposes such as working capital, equipment, and real estate; the Microloan Program, which provides loans of up to $50,000 to small businesses and non-profit childcare centers; and the CDC/504 Loan Program, which provides funding for fixed assets such as land, buildings, and equipment.

In addition, the business must be a small business according to SBA standards, which vary by industry.

Additionally, businesses must demonstrate a need for the loan and be able to show a reasonable ability to repay it. When evaluating loan applications, the SBA may also consider factors such as the borrower's character, experience, and collateral.

5. Exploring Alternatives: Small Personal and Business Loans

In addition to government loans,  alternative financing options are available for individuals and businesses seeking capital. Private small personal loans and business loans are two such options.

Small personal loans are typically unsecured for various purposes, such as home improvements, debt consolidation, or unexpected expenses. Private lenders generally offer these loans and may have higher interest rates than government loans, but it is typically easier to qualify for a personal loan.

Business loans from private lenders are also an alternative financing option for businesses that do not meet the eligibility criteria for government loans or need additional funding beyond what government programs offer. Private lenders may offer loans for various business purposes, such as equipment purchases, inventory financing, or working capital.

However, it's important to consider the terms and interest rates of private loans before accepting them. Some private lenders may charge high-interest rates and fees, making the loan more expensive in the long run. Additionally, businesses should ensure that they have a solid plan for repaying the loan and that the loan terms fit their overall financial goals.


Government grants and loans are government-offered financial resources designed to assist individuals and businesses with financial aid. Grants are free money from the government provided to individuals or organizations for specific purposes, such as education, research, or community development. On the other hand, loans are funds provided with the expectation of repayment, often with interest.

There are many ways to obtain government grants and loans. Personal government grants are available to support individuals with various needs, including education, housing, healthcare, and other personal expenses. Government grants are also used to fund business ventures, community projects, research, and other initiatives. Additionally, government loans are available to individuals needing financial assistance, with lower interest rates or more flexible repayment terms than those offered by private lenders. Government grants and loans can boost economic growth and enhance social welfare by financially supporting individuals and businesses.

Steve has been writing in the financial products space for over a decade, with interests ranging from personal loans to investing. He is also deeply into the blockchain space. In his free time, you can find him in the kitchen preparing delicious meals, or outside hiking and biking.