Is Your Business Grant- or Loan-Ready?

Whether you're applying for a small business loan, a line of credit or a grant, the same basics come up again and again. Getting them ready ahead of time saves weeks.

Documents to Gather

• Two to three years of business tax returns
• A current profit and loss statement and balance sheet
• Recent bank statements
• Business licenses, registrations and insurance certificates
• A one-page summary of what you do and how you'll use the funds

Clean up Your Books

Separate business and personal spending, reconcile your accounts monthly, and keep receipts organized. Messy books are the most common reason small businesses get turned down.

Know Your Numbers

Be ready to explain your monthly revenue, your biggest expenses, and how the money will help you grow or stabilize.