This grant helps low-income families with unexpected expenses and is a free grant, not a loan.
Have you ever found yourself in a financial bind, unable to pay an unexpected bill? You aren’t alone, and The Modest Needs Grant may be able to help.
This grant provides financial assistance to individuals and families operating just above the poverty level and, therefore, may be ineligible for standard financial assistance from the government. They focus on individuals living alone, veterans, teachers, and first responders.
Who is Eligible?
You may be eligible for a Modest Needs Grant if you:
- Are 18 years old or older
- Are a US citizen
- Have at least one bank account
- Filed at least one tax return in the last two years
- Have internet access at home
- Rent your home
- Pass the income and employment tests described in the application
How it Works
If you need a low-income grant from Modest Needs, you must complete their application. You’ll need to provide the reason you need financial assistance as well as proof of your income. It can take up to 45 minutes to complete the application, so ensure you have adequate time when you begin.
The grant is specifically for employed individuals – at least one household member must be employed to qualify. In addition to employment income, the household income can come from retirement income, VA benefits, or child support.
Once you submit your application and necessary documentation, Modest Needs underwrites the application, deciding if they should prequalify you. If they do, they place your application on their website for donors to see, but no personal information is divulged. Donors decide which applications they want to fund first. Once they raise 100% of the funds you need, it goes through a final administrative review. After the review is complete, Modest Needs notifies you, and you are required to write a ‘Thank you’ to the donors, after which the grant is funded.
How Does Modest Needs Raise Its Funds?
Modest Needs obtains funds from fundraising efforts. They started the process in 2002, which involves the application going in front of the donors who then raise funds by crowdsourcing. They don’t guarantee to fund each grant but have been historically successful in getting the funds needed. Because of this, grant funds aren’t immediate – it may take some time for them to raise funds after receiving and approving an application.
How Can You Use Funds?
You can use funds from the Modest Needs Grant for any of the following:
- Unexpected expenses that you can’t afford because you live paycheck-to-paycheck
- Regular monthly bills you can’t afford because of an unexpected issue (illness, injury, etc.)
The expense must be one that Modest Needs can pay directly for you. They are unable to send cash or gift cards directly to recipients.
The Modest Needs grant is a great way to get financial assistance for low-income families when you can’t make ends meet. While it’s a slightly slow process because you have to wait for crowdfunding, it’s a 100% free grant – not a loan, so you don’t have to worry about repayment.