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Grants are non-repayable funds or products disbursed by one party (grantmakers), often a government department, corporation, foundation or trust, to a recipient, usually (but not always) a non-profit entity, educational institution, business or an individual. To receive a grant, some form of "Grant Writing" often referred to as either a proposal or an application is required.
Most grants are made to fund a specific project and require some level of compliance and reporting. The grant writing process involves an applicant submitting a proposal (or submission) to a potential funder, either on the applicant's initiative or in response to a Request for Proposal from the financier.
Small business grants require a financial investment by the applicant.