This week we received a question from reader Donnetta that we hear a lot: can I get a grant to start my for-profit business?

Let's rip the band-aid off fast: while yes, it's possible, it's incredibly unlikely (translation: it's not going to happen). There's a reason that free money sounds to good to be true. It's because it is.

Most grants are given to non-profit or research organizations for very specific purposes that typically involve contributing to the greater good. Many foundations are also prohibited from giving grant money to for-profit businesses due to tax law. It makes sense: people set up charitable foundations and funds to confer grants to people who are either underprivileged or who are going to help the community in some way. Viewed through this charitable lens, it's easy to understand why giving grant money to line the pocket of a single entrepreneur isn't one of their primary missions.

But what about the government? Surely Uncle Sam has grant money available for businesses? Well, sort of. While the Federal government itself doesn't offer grants, its various departments and agencies do hand out some money to businesses whose work matches their mission.

However, few if ANY grants are slated for start-up businesses, and most are for very specific purposes, typically research and technology development. That means unless you already have an operational business that might have some missile technology to contribute to the defense department, you probably aren't getting any free money from the feds.

If you think you do fit that bill, one website to check is the Small Business Administration's Small Business Innovation Research Center, which lists information about goverment agencies that give grants and past recipients. Again, these grants are primarily for functional businesses that deal in tech and research—not for starting a corner coffee shop.

Here's my advice: if you're an entrepreneur seeking start-up capital, your best bet is to visit your bank and to seek a loan from them or through the Small Business Administration rather than pining away for grant money.