How can you get free government loans?


Quick Answer

Individuals cannot get free loans from the U.S. government because qualifying applicants who obtain government loans are required to pay back the loans, usually with interest, according to USA.gov. In comparison, eligible people who receive grants are not required to pay back the grants.

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Full Answer

Anyone who wants to obtain financial assistance from the government must submit an application and meet particular eligibility criteria, states USA.gov. Local human service or social service agencies can also provide financial help or refer applicants to local community organizations that offer financial programs.

Benefits.gov is the official website for accessing government benefits and assistance programs online, says USA.gov. Interested applicants should visit the site to find out which types of loans or grants they qualify for and how and where to apply. Those who want to know more about education loans, business loans and other government loans can find comprehensive information at GovLoans.gov. People searching for grants for organizations may go to Grants.gov.

The government typically awards grants to nonprofit organizations, states, cities, universities and researchers, explains USA.gov. Only a small number of grants, known as personal grants, are accessible to individuals. Some of the most popular benefits from the government include education; family and housing; health and nutrition; job and unemployment; and agricultural and rural assistance.

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