Established in 2012 by T. Eric Galloway and Henry van Ameringen, the Galvan Foundation aims to support charitable institutions in the Hudson, New York, area by financing their continuing projects via grants. As a co-founder of the Galvan Foundation, Eric Galloway has been helping such organizations with grants ranging from $5,000 to $50,000.

1. Grants versus Loans
Eric Galloway

2. Introduction
• Established in 2012 by T. Eric Galloway and Henry van
Ameringen, the Galvan Foundation aims to support
charitable institutions in the Hudson, New York, area
by financing their continuing projects via grants. As a
co-founder of the Galvan Foundation, Eric Galloway
has been helping such organizations with grants
ranging from $5,000 to $50,000.
While grants are a form of financial assistance awarded
to an individual or a group by the government or a
private entity like the Galvan Foundation, loans are
offered to a borrower by banks or private institutions.

3. Grants versus Loans
• Whereas the former are given for a specific
purpose and do not require repayment, the latter
are provided for a personal or commercial
purpose and are expected to be repaid with
interest.
Nonetheless, grants and loans have certain
features in common; both are long-term sources
of funding and require the fulfillment of certain
conditions. Additionally, both take only a few
days to process.