Keep in mind there are many ways to raise money for a business – and many ways to structure a funding proposal. So if you’re serious about getting it right, there are extensive resources out there you should probably be reading. Grants and scholarships, equity financing, and debt financing are the main three methods of funding for small businesses. Grants and scholarships do not need to be repaid and are often best for nonprofit organizations.
Be sure to carefully proofread and spell-check all the pages. If your proposal seems sloppy, the reader may conclude that you are not professional and don’t pay attention to details. Recruit a proofreader who is not familiar with your proposal to do the final proof, because it’s nearly impossible to spot errors in your own work. Keep in mind that spell check cannot catch words that are correctly spelled but misused. Grant proposals also require a section that explains how progress and performance will be measured.
tips for writing a grant proposal.
This page sets the tone for the rest of the document, so make sure it’s smart, aesthetically pleasing, and professional. Don’t be afraid to add your own creative flair, branding, and design—but make sure it sits within your company’s accepted guidelines. Use the acronym SMART when developing your key objectives to make sure you’re on-track. If there is a section of the proposal you know you can nail, begin there because it will give you the confidence to move into sections you find more intimidating. “Over the past 2 years I’ve bought dozens of other copywriting courses including Dan Loks High Income Copywriter. But, yours was by far the best of all.”
The length of your proposal will vary depending on the complexity of the project you are proposing and how much funding you require. It is obviously easier to describe an expansion plan and present financial data for an existing business than it will be to describe how you will get a new business up and running. Your proposal might be only ten pages long, or it might need to include dozens of pages. Address it to the exact individual that will be reading the proposal, and don’t go overboard.
Include a space for signatures to document agreement.
Finally, share how you’ll pay the loan or what sort of return on investment investors can expect by investing in your business. Provide financial details such as income and cash flow statements, and balance sheets in your funding request section. You may need to have your CEO and the Board President sign the cover sheet or letter. You do not need a fancy binder, but it should all be neatly typed and free of errors. Online grant applications have become quite popular with many funders. Include what records you will keep or data you will collect, and how you will use that data. If the data collection costs money, be sure to include that cost in your budget.
What are the elements of a good grant proposal?
- Summary or Abstract. Who is making the application.
- Introduction: Project Staff and Project.
- Problem or Need Statement.
- Objectives: "Measurable" Accomplishments.
- Methodology: Activities.
- Evaluation (Where Appropriate)
Like the previous point, adding social proof lends your proposal another degree of credibility. You can only be so convincing when you’re personally talking up how great your business is. If you can find some relevant, compelling figures that highlight what you have to offer, you can establish authority and make yourself that much more convincing. It also helps to include visuals such as charts and graphs to enhance your proposal.
Step 2. Start with a short executive summary
Sustainable enterprise established by the formation of 2 cooperatives will help in easy access to markets and will considerably enhance the family incomes. Your objectives should always be written using action verbs like create, identify, promote, enhance, increase, and develop, etc. These verbs help describe the course of action and clarify your object.
- You can use that information to your advantage in your proposal.
- This project aims at tapping the potential of women through investment on awareness generation, capacity building, and setting up of enterprises in the area.
- The summary can be only a few sentences but not longer than a few impactful paragraphs.
- These online tools are often free to use and can help you quickly and accurately review your work.
- All of this needs to be explained in the need statement to sway lenders.
A proposal overview, or executive summary, should quickly capture the potential investor’s attention. A business proposal outlines your value proposition and persuades a company to work with you. Here, we’ll show you how to write a stellar business proposal. Current and future financial plans include items such as loan repayment schedules or plans to sell the business.
This should be a high-level overview of what you do, who you target or serve, your core goals and achievements, value proposition, and an overview of your financial situation. The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. Hilarey Gould has spent 10+ years in the digital media space, where she’s developed a passion for helping people understand how to write a grant proposal for a small business economics, saving, investing, credit card perks, mortgage rates, and more. Hilarey is the editorial director for The Balance and has held full-time and freelance roles at a variety of financial media companies including realtor.com, Bankrate, and SmartAsset. She has a master’s in journalism from the University of Missouri, and a bachelor’s in journalism and professional writing from The College of New Jersey . If you’re submitting a proposal by mail, put everything together with your cover sheet and a cover letter.