Subsidies do not exist only in the form of grants, which do not have to be repaid. In fact, private people, as well as companies are increasingly turning to subsidies in the form of loans to make their idea a reality. Grants and loans can be applied for from the government. However, the funding application should meet a few conditions.
This makes it much more difficult to submit a successful grant application for a business start-up, for example. Here applicants must consider a lot, because otherwise it will not come to the desired loan.
The most important points to make every grant application a success
1. Project description
The very most important thing is to have a detailed and successful plan description. In the best case, this should already break down all the steps and contain all the important information. This is already half the battle. The plan description should be done chronologically. First of all, the current state is formulated, and all stakeholders are listed. The next step is to answer important questions. Why and why should the whole thing be done? What is the status when the project is finished and what does the applicant expect from it?? What services must be provided for this and who is needed to implement them? What is the final goal of the project and what is the added value of the funding??
2. Introduce innovation
The next step is now to describe the resulting innovation or novelty in more detail. Here, the benefits and added value must be clearly highlighted, so that the funding makes perfect sense.
3. Disclose forms
From the 3. Step it still goes to disclose any steps and forms. Consequently, it is inevitable that the necessary forms and offers have already been obtained on all points. To give the funding bank a quick and serious overview right away, cost estimates are listed in detail. It is important to break this down into categories such as personnel, services, materials, travel expenses, etc. to distinguish.
4. Make schedule
Timing plays a big role in a compelling funding application wording. A concrete timetable proves that the applicant has already thought carefully about implementation. For this it is important not only to obtain the respective offers of the service providers, rather a time analysis must take place. However, this does not only include the implementation of the innovation/innovation. A timed loan repayment plan is considered another important step in convincing the funding bank that the project is serious.
5. Solicit offers
It is also imperative that the applicant obtain several quotes from different vendors. Normally, the cheapest provider wins in this case. By listing the various offers, the funding bank will immediately know that the selected provider is the right choice.
6. Prove vendor data
In order to show yourself as transparent to the funding bank, provider data should not be withheld under any circumstances. This leaves the funding bank with another opportunity to check the funding application for seriousness by contacting the provider directly.
7. Provide confirmation of financing
Last but not least, you will need to have a funding confirmation to go through. This guarantees the company's liquidity, so to speak, and therefore provides proof of equity. In addition, at a quick glance, the funding bank gets the assurance that there will be no problems with loan repayment.