Grants for Food and Beverage Guidebook
What happens when I’m approved for a Food & Beverage grant?

Summary

• Use the Funding Agreement as the main resource in the post-approval stage. 
• Different grant types require different documentation for reimbursement – pay attention to what these requirements are. 
• Do everything you can to build a strong relationship with the program to increase your chances of approval in the future.

Woohoo! You did it! All the tough work is over, the nerve-wracking waiting is done, and you can finally get the free money your business is entitled to. Of course, this is the most exciting part of the grant process, but there are a few key things to keep in mind about the post-approval process. Let’s have a look at what to expect.

Receiving your Free Food & Beverage Funds

When you receive an email notifying your business of approval for funding, you will most likely also be issued a Funding Agreement. This is a document that outlines the terms and conditions of your project, including the amount of money you will receive, the start and end dates, and the expected outcomes of your activities. Save a copy of this document! It will be your best resource moving forward for all things related to your project. Once the agreement is signed and sent back to the program, you are free to start spending.

The ways in which grant funding is dispursed differ based on the type of the grant and the grantor. Here is an overview of the reimbursement method for each type of grant in the Food & Beverage industry.

• Training: Food & Beverage training grants are usually the simplest in structure. Since these programs are billed in one payment, to receive reimbursement you will only need to submit the required documents once. You can then expect to receive a cheque or direct deposit transfer once the expense has been processed by the program.
• Hiring: Hiring grants generally operate as wage subsidy programs. This means that the funder will reimburse you for a certain percentage of the new employees’ wages up to a specified dollar value. To receive this money, you will need to submit the employee’s information along with their pay stubs to the funding program. You’ll then receive your funding on an ongoing basis until you’ve reached the maximum grant amount. 
• Market Expansion: Most of the time, market expansion projects operate through a reimbursement structure. This means that your business will incur expenses associated with the project, you will fill out claim-expense forms, provide invoices, and submit these reports to the program for processing. If the expense is within the guidelines of the program, they will issue reimbursement for a portion of the expenses. Often in this structure, you will also have to update the program on the success of your project to date and what your next steps are. 
• Alternative Food & Beverage grants: Outside of the main grant types, there are a number of Food & Beverage specific grant programs that have their own intentions and operate on their own, sometimes unique structure. Some programs may require you to provide financial reporting to showcase the impact of your project, while others may ask you to fill out a survey. In any case, be sure to consult the Applicant Guide for instructions and best practices so you can receive your funding.

Paperwork needed for reimbursement

Regardless of the type of grant or how much you’ve been awarded, the most important part of the post-approval stage is keeping close track of all the required paperwork and documentation. Of course, the Funding Agreement is your go-to for this information. 

Depending on the type of Food & Beverage grant you have been awarded, documentation will vary. Below is a compiled list of commonly required documents for Food & Beverage program reports.

• Invoices
• Interim reports
• Paystubs
• Proof of Payment
• Questionnaires
• Expense tracking
• Site visits
• Certification documents
• Product labels

Reputation with the program

As mentioned in a previous chapter, we consider the grant process to be a life cycle. And an important part of that life-cycle is the reputation you’ve built on the other side. Did you provide the program with all the necessary documentation? Did you deliver reports according to the claim deadlines? Were you able to use all the funding that was awarded to you? These are all factors that will shape your relationship and reputation with the program, which is very important. If your project was a success, it’s likely that you are now in a position to leverage a new grant to push your business even further forward. Many Food & Beverage programs run for several years, and if you’ve done well in the first intake, you’re more likely to be approved the second time around. Making sure to retain a strong and positive relationship with the funding program will go a long way to ensure your next application is successful.

The post-approval stage is arguably the most important part of your project. After all, this is the stage in which you execute what you proposed in your submission. We know that there is an overwhelming amount of required documentation and things to keep in mind while you’re working on your project. At Granted, we provide all of our Food & Beverage clients with the tools needed to meet their goals and realize their vision. Our mission during this stage is to take all the weight off of your shoulders; we handle it all so you can maintain a good reputation with the program and focus on running your business.