Over my career in agriculture and biofuels, I’ve prepared over 50,000 pages of grant documentation, helping approximately 300 organizations acquire almost $200 million dollars in grant funding through programs like REAP (Rural Energy for America Program) and HBIIP (Higher Blends Infrastructure Incentive Program).
We’re entering a time of year where many people begin thinking about grants and governmental programs to benefit their projects. With that in mind, here are some of the most relevant pieces of advice for your team.
Frequently, I encounter businesses inquiring about grant potential for their projects when it’s late in the process, or already too late to apply. Initiate the process well before starting construction or ordering equipment — even before Board of Director approval — to ensure the best likelihood of success.
Information for grants and incentives often requires input from multiple parties. I know of a grant application that contained different project start dates across different forms – resulting in its immediate rejection upon first review by the federal agency. Don’t let a great grant opportunity be ruined by a lack of attention to detail.
Roadblocks will arise. As an example, requirements may unexpectedly change throughout the application process. One USDA grant I helped apply for had a new set of rules and scoring criteria released just 30 days before the deadline.
Establishing a positive rapport with agency officials is important. You want an ally rather than an obstacle. Agency advocates, however, don’t mean you can ignore the technical requirements for a successful application. Even the location of your business on a particular street could nullify an otherwise promising application. Don’t write off the rules.
A seemingly minor mistake or oversight can sink an otherwise very thorough and well-merited project. The wrong number on just one of 600 pages submitted to the agency can get the entire request tossed out without further consideration.
Project funds are out there, but you need to look in the right place. Solicited opportunities are the easiest to locate, but can be competitive, may only be offered once per fiscal year, and receive more requests for money than total funds available. However, there are also programs that are well advertised but underutilized. A good grant strategy will weigh all these considerations to focus on opportunities that have the best chance of success.
As you look at grant funding and economic development incentive options, I hope some of the above knowledge and experience we’ve learned over the years can assist you.