What’s the difference between a loan and a grant?
A grant is ‘a gift’ that is given which often does not require repayment, while ‘a loan’ is a payment that typically requires repayment over a period of time after you get the money.
The difference is the repayment. A loan requires a set repayment schedule (weekly, fortnightly, monthly) as an example. A grant does not require repayments. If you qualify for a grant it’s treated as a gift.