Grants are sums of money given to help further the goals of small businesses or individuals. They can be awarded by government entities or private businesses. Unlike a loan, grants do not need to be repaid.
HM Hotels, Inc. established the Rama Scholarship for the American Dream with a $1,000,001 endowment. The five Rama brothers, principals in the company, emigrated from India to pursue their American Dream. It began with the ownership of one lodging property and grew into a successful operation of 35 properties and more than 1,500 associates. The fund, established on the 25th anniversary of the brothers' first hotel purchase, encourages others to create their own American Dream. Participating schools select the recipients. Preference is given to students of Asian-Indian descent and other minority groups, as well as JHM Hotel employees.
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Creating or growing your own venture can be a scary task — a task that often requires funding. It’s common when looking for funding to turn to banks and investors, but what if there was another option?
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