21 Ways to Raise Cash or Restructure Business Debt to Increase Cash Flow

12. Grants

The government has specific units, such as the Department of Housing and Urban Development, that can help businesses if the venture falls into their target development area.

Grants.gov is an official federal portal for information and applications for government grants. The Small Business Innovation Research program gives away about $2 billion each year to fledgling high-tech companies.

According to Grants.gov, grants are financial assistance to "carry out a public purpose of support or stimulation authorized by a law of the United States." They are available in 21 categories including:

• All Categories of Funding Activity
• Agriculture
• Business and Commerce
• Consumer Protection
• Education
• Energy
• Food and Nutrition
• Housing
• Information and Statistics
• Law, Justice and Legal Services
• Science and Technology and other Research and Development
• Recovery Act
• Arts
• Community Development
• Disaster Prevention and Relief
• Employment, Labor and Training
• Environment
• Health
• Humanities
• Income Security and Social Services
• Natural Resources
• Regional Development
• Transportation

Grants are used for the good of the public, not for the personal gain of an individual. For example, you're not going to receive a grant to install drywall in your rumpus room. However, an organization seeking to develop low-income housing is likely to be eligible.

Because grants typically go to organizations, individuals seeking assistance should visit GovBenefits.gov. The site lists all the benefits you may be eligible for. The process is surprisingly straightforward. Describe your circumstances, select what type of assistance you're interested in, and -- voila! -- you'll be directed to what's available.