Simple English definitions for legal terms
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Definition: Funding is the process of getting money to pay for things. This can be done by borrowing money for a long time or by using money that has been saved up. It can also mean giving money to a specific project or putting money into a special account for a certain purpose, like retirement or research.
Definition: Funding refers to the process of obtaining financial resources to finance a specific activity or project. This can be done by issuing long-term debt obligations or by converting short-term obligations into long-term obligations to finance current expenses. It can also refer to the provision or allocation of money for a specific purpose, such as for a pension plan, by putting the money into a reserve fund or investments.
Examples:
These examples illustrate how funding can be used to obtain financial resources for different purposes, such as business development, research, and personal financial planning.