Grants are financial awards provided by governments, foundations, institutions, or other organizations to individuals, businesses, or nonprofits for specific projects or initiatives. Unlike loans, grants do not require repayment, making them a valuable source of funding for various purposes. Grant recipients are typically selected through a competitive application process, where the applicants outline their goals, plans, and the potential impact of their proposed project. Grants contribute to the growth and sustainability of diverse initiatives, providing essential resources to individuals and organizations striving to make a positive impact in their respective fields.
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