The SBA has a number of tools you can use to help you search for financing to fund your start-up costs as well as get together all the information you'll ultimately need to complete loan applications.The SBA doesn't provide grants to start or expand a small business unless it's a non-profit. Since government grants are funded by tax dollars, they are difficult to get and require detailed reporting to ensure that you are in compliance with the requirements to receive one.
The SBA does provide grants to local governments to aid economic development, so you may be able to get a grant from your local government.
While you may not be able to get funding from the SBA, they can help you with financing advice.Typically, if you want to look for grants, you'll have to work with a private company or a nonprofit organization.;
, Since most lending institutions will ask you the same information, you can prepare that information before you actually fill out the applications so the application process will be a little less burdensome.On a basic level, you'll be asked questions about the business you want to start, why you're applying for the loan, and how you will use the loan proceeds if approved.
Gather information about your business, the assets you'll need to purchase and the suppliers or vendors you'll be purchasing them from, and any other inventory or supplies you will be purchasing with loan proceeds.
If you have any other business debts, you typically will need to provide information about those debtors, amounts, interest rates, and your plans to pay them off.
Particularly if your business is organized as a corporation, LLC, or partnership, you must provide information about the other members of your company or of your management team, especially those who will have access to the loan proceeds.
 When applying for grants or loans, you typically must provide a full-scale business plan so the lender or grantor can get a sense of the type of business you want to start and its potential for profitability.In addition to your business plan, you also will need to have copies of any legal documents related to your business.
For example, if you've organized your business as a corporation, you will need to provide your certificate of incorporation and the articles of incorporation or other documents you filed with the state to incorporate your business.
The SBA website has a number of tools and templates you can use to complete a business plan. You also may want to consider consulting a business attorney or accountant to help you with some of the calculations and projections in the plan.
 Lenders in particular often want to see your resumé. If you're planning to start a small business, they want to know that you have experience managing employees and operating a store.In addition to your resumé, most lenders will run credit checks on you and any other major partners in your business.
Get a copy of your credit report before you apply for a business loan so you know what's in it and can correct any errors.
You are entitled to one free credit report from the three national credit reporting companies each year, which you can order by visiting the website www.annualcreditreport.com. This website is the only one approved by the federal government to order the free credit report to which you are entitled by law. You also can call 877-322-8228.
Some lenders also may conduct a criminal background check on you and any major business partners.
 Lenders will want to understand the financial plans of your business as well as the financial background of you and any other partners who have at least a 20 percent stake in your business.In terms of your business finances, some of this information may be included in your business plan. Generally, the lender will want balance sheets, income and cash flow statements, and bank statements.
Since your business is still in the start-up stages, you typically won't have a lot of this information, but you will have projections.
You also will need to provide personal financial information. If you've ever applied for a mortgage, the information you'll need to provide to get a traditional business loan are somewhat similar.
Generally, expect to be asked to provide two to three years of income tax returns, personal bank statements, and personal financial statements describing annual your income and assets.
 While you may not qualify for a government grant to start your small business, there are many private corporations that have grants or contests you can enter to get money to fund your start-up costs.Keep in mind that while you aren't required to pay back any grant money you receive, grants often include numerous conditions that must be met.
Make sure your business is capable of meeting these conditions before you apply for a grant, because if you fail to meet them you may have to pay the money back.
While federal grants typically aren't available for small business start-ups, your state may have various grants available for which you would qualify. Check the business section of your state government's website for more information.
Grants also are available particularly for racial or ethnic minorities and for women. If you are a member of a racial or ethnic minority, check the website of the Minority Business Development Agency for more information and assistance.
Many private companies and nonprofit organizations also offer grants for women who are starting small businesses.
If you find a grant for which you're interested in applying, read the guidelines carefully to ensure your eligibility.
Keep in mind that grant applications can be lengthy, so take note of any deadlines and start the process as soon as possible rather than putting it off to the last minute.
Check the Small Business Association (SBA) website.
Prepare your application information.
Complete your business plan.
Brush off your resumé.
Gather financial documents.
Search for grants from private sources.
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