The Truth about Grants!!!!

FREE MONEY - FREE CASH GRANTS - NEVER REPAY CASH GRANTS FOR PERSONAL NEEDS, MEDICAL BILLS, EDUCATION, BUSINESS, DEBT CONSOLIDATION, AND MORE"
Hopefully, all of this sounds too good to be true and as you know when something sounds too good to be true, it usually is. Solicitations like these have been appearing in e-mails recently as well as some classified ads. These ads claim that "foundations can be a better source for finance than banks" and "anyone can get an interest free cash grant". The e-mails we have seen encourage consumers to send an application fee of $20 to $50, with the promise that their financial needs and requirements will be matched with the most suitable private foundations or they may even promise to provide a list of available grants. If you decide to respond to these ads be aware that your name and information may never reach reputable foundations. Generally obtaining a grant is a complicated process requiring documentation and research. Although there may exist private foundations whose requirements are based on an individual's personal preference, the vast majority of grant making foundations require that applicants for funds meet very specific guidelines and that the funds be used for specific projects that the foundation may wish to support.
One such company, Cash Free Grants, Inc. was named in a Consent Decree with the United States of America. The company located in East Windsor, New Jersey had engaged in mail order promotions which stated that for $39 or $49 Cash Free Grants would match a consumer's financial need with a foundation that gave grants to consumers. Their advertisements said "they knew where the money was" and would be happy to share that information.
The Better Business Bureau of Metropolitan New York was named in the Consent Decree to administer a refund program to any consumer who had been misled by this company. If you wish to apply for a refund send your name, current address, proof of purchase and the amount of purchase to the Better Business Bureau/New York, Attention Department CFG…Post Office Box 767, New York, NY 10010-0767. All requests for refunds must be received no later than August 30, 2002 to be eligible for consideration.
I would like to offer the following advice to anyone considering responding to and paying advance fee money to any company offering any of the above:
1. Watch out for phrases like "free grant money". Grants do not have to be repaid; thus there is no need to use the word "free".
2. Organizations do not usually give out grants for personal debt consolidation or to pay for other personal needs. Grants are usually given to serve a social good, training under employed youth, preserving a bit of history, etc.
3. Check out any company you plan to do business with through the BBB and also check with a Regional or State Economic Development Office to see if they know of grant programs for which you might qualify. These are of course free.
4. Visit your public library and ask the librarian to help you find reference books describing foundations and the criteria used in awarding grants.
5. Be wary if you are asked to provide upfront money to an unknown company before any services are provided.
6. If you are having financial problems there are local non-profit credit counseling services who may be able to assist you at no charge. Remember the trigger concept of an advance fee - upfront money - is usually reason to be suspicious so thoroughly check out any offer.
NOTE: Volunteer arbitrators needed for the BBB. Attorneys or experienced arbitrators may qualify to become a volunteer arbitrator to resolve automotive and other consumer/business disputes for the BBB. Two training sessions will be held in Chicago…one on September 17th and 18th and the other September 19th and the 20th. A $100 registration fee is required. For additional information regarding these 1-1/2 day sessions call Roxanne Calibraro on 312-245-2513 or e-mail rcalibraro@chicago.bbb.org.


Links: Catalog of Federal Domestic Assistance
http://12.46.245.173/cfda/cfda.html

THE FINANCIAL MANAGEMENT SERVICE
http://fms.treas.gov/index.html

Foundation Centerhttp://foundationcenter.org/findfunders/fundingsources/gtio.html