Proper funding is always an important goal of any organization, with grants and loans being two popular sources of funding. Understanding the difference between grants and loans is crucial to leveraging them to your organization’s benefit.
The main difference between a grant and a loan is repayment. Grants are typically funds provided by government bodies, foundations, or corporations that do not require repayment, while loans do.However, this doesn’t mean there are no costs associated with grants. Some people think of grants as "free money,” but that can be a misleading thought process.