Most types of financing organizations have some type of calendar you must fit your requests into, but grant making organizations often have a long funding cycle that you should learn about early on. Grant funding cycles can be monthly, quarterly, annually, or even longer.
Grant Funding Cycle Components
When you are considering a particular grant look for information about the following components of their calendar:
- Announcement of grant availability, which may be requests for proposals on their web site, or formal government announcements
- Application submission deadlines, which can sometimes be very soon after announcements!
- Proposal reviews
- Announcements of grant winners
- Contract negotiation with winners
- Final contract signing
- Disbursement cycles – not all of the cash comes up front in many grants
- Interim reporting cycles – depending on the length of the grant project interim reports may be required on a regular basis
- Final report.
For most companies the two most important questions about the funding cycle are:
- How often do they review new proposals?
- How long is the process from proposal submission to decision making, and from decision making to initial funding?