This is when finance is provided to an individual or business, usually by a government corporation or a trust foundation. To receive this type of financial backing, a proposal or an application is normally required for it. The main purpose of a grant is that they are non-repayable and they are usually paid to companies who are non-profit making or they are providing a service that is considered to beneficial for the wider population, such as renewable energy resources. Also due to their nature of being a non-repayable form of finance, the projects and businesses that receive finance in this way have to make sure that they are doing something that is beneficial to the wider community, such as research.

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