Business Documents 101: What Small Business Owners Need Before Applying for Funding

Business Documents 101: What Small Business Owners Need Before Applying for Funding

The goal would be to help small business owners understand the purpose of key financial and business documents, why lenders and grant reviewers ask for them, and how to use those documents to make better business decisions.

Topics could include:

• Profit and Loss Statement
  What it shows, why lenders and grant reviewers request it, and how business owners can use it to understand revenue, expenses, and profit.
• Balance Sheet
  How assets, liabilities, and equity show the financial health of the business.
• Cash Flow Projection
  Why being profitable does not always mean having available cash, and how projections help with loan repayment, inventory planning, hiring, and expansion.
• Business Plan
  What lenders and grant programs look for, including the business model, target market, pricing, operations, and growth strategy.
• Use of Funds Statement
  How to clearly explain what the business needs funding for, including equipment, marketing, website updates, signage, working capital, or professional services.
• Personal Financial Statement
  Why owners are often asked for one, what it tells a lender, and how it connects to personal guarantees and repayment ability.
• Debt Schedule
  • How to list existing business debt, monthly payments, balances, interest rates, and how lenders use that information to evaluate repayment capacity.

Brought to you by Kevin Herndon, WBC Business Counselor

**Upon completing registration, you will receive a confirmation email in which the link to join the Zoom sessions will be located. Please be sure to scroll down to find the link**

“Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.”

Reasonable accommodations for persons with disabilities and/or limited English proficiency will be made if requested at least two weeks in advance. To request accommodation or language assistance, please contact the Women’s Business Center to discuss your needs