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Resources & Templates​

Getting your business ready for funding can feel overwhelming, but we’re here to help. While every lender may have their own unique criteria, many of the requirements are similar across the board. To support you in preparing for funding opportunities, we’ve gathered a collection of helpful resources and templates you can use to strengthen your application and better understand what funders are looking for.

Be sure to take one of our classes or do your own research to learn how each resource applies to your specific business needs. The more informed and prepared you are, the better your chances of securing the capital your business deserves.

Capital Ladder

CAPITAL LADDER

Climb the Capital Ladder with BUILD Institute. Securing a business loan doesn’t happen overnight—and that’s okay. At BUILD Institute, we help entrepreneurs work their way up to larger funding by starting small and building strong financial habits along the way. Our Capital Ladder is designed to guide you step-by-step through accessible funding opportunities that grow with your business. Whether you’re just starting out or ready to expand, there’s a rung for you to stand on as you reach your capital goals.

Build Alumni 3C Funding

BUILD Alumni 3C Funding is our micro-loan for BUILD Alumni. Loans range from $2,500 to $10,000, are set to 3% interest, and have 36 month terms. If year 1 and 2 payments are made on time, year 3 repayments will be cleared by a BUILD Institute contribution grant.

Alumni Funding
Kiva Detroit

Kiva offers 0% interest, crowdfunded microloans ranging from $1,000 to $15,000 with 12 to 36 month terms, focused on character rather than credit.
Kiva is an active lender in over 70 countries, BUILD Institute is Kiva's local partner.

Kiva Detroit
Detroit Soup

Detroit SOUP is a micro-granting dinner celebrating and supporting creative projects in Detroit. Ideators pitch their ideas to a local crowd and take home all the money raised at the door. Detroit SOUP is a great place to win a grant for your business while testing your concept on a crowd of local peers.

Detroit Soup

CAPITAL TEMPLATES

Business Plan

A business plan is a guiding document that outlines a business's goals, operations, market strategy, and financial projections.

Build Your Own

Learn more about our business planning classes
Click here

Tax Returns

Three years of tax returns show a business's financial history, helping lenders assess stability and repayment ability.

Complete Yours

Visit the IRS's small business and self-employed tax center
Click Here

Business Registration

Each state offers a certificate that verifies a business's registration, licensing, or compliance in that state.

Register Your Business

Visit the Small Business Administration Website
Click Here

Profit & Loss Statement

A P&L statement shows a company's revenues, expenses, and profit or loss over a period, showing financial performance.

Use Our Template

Download, edit, and fill
Click Here

Cash Flow Statement

A cash flow statement shows how cash moves in and out of a business, revealing its financial health.

Use Our Template

Download, edit, and fill
Click Here

Balance Sheet

A balance sheet summarizes a company's assets, liabilities, and equity at a specific point in time.

Use Our Template

Download, edit, and fill
Click Here

CAPITAL READINESS CHECKLIST

Status

  • I am requesting financing for a specific purpose.
  • My business has recorded sales.
  • I have an estimate of what it will cost to start (or expand) my business.
  • I have experience in this industry or in running businesses.
  • I invested my own money in this business.

Personal

  • I know my credit score.
  • I understand my personal assets and liabilities.
  • My personal tax filings are up to date.
  • I know my total monthly household income and expenses.
  • I have filed for bankruptcy in the past 7 years
  • I own commercial or personal property or other collateral.
  • I know my US citizenship or immigration status.
  • I have an Individual Taxpayer Identification Number (ITIN).
  • I have been convicted of a felony.
  • I am obligated to pay garnishments, liens, child support, or alimony.
  • I am current on payments for garnishments, liens, child support, or alimony.

Marketing & Operations

  • I have a written business plan.
  • I know which of my products and services are the most profitable, and which are least.
  • I understand my customer base and can describe my ideal customer.
  • I have business insurance.
  • I have a strategy or plan for marketing.
  • I have workers’ compensation insurance.

Cash Flow

  • I am able to pay my bills on time.
  • I have a budget for how to use any loan I receive.
  • My current cash flow will cover my loan repayments.

Accounting & Bookkeeping

  • I have accurate financial statements, such as a balance sheet and income statement.
  • I have a CPA, bookkeeper or accounting system in place.
  • I have a business bank account.
  • I have a list of my business assets and liabilities.

Legal

  • I am a LLC, LLP, L3C, Corporation, or other incorporated legal structure.
  • I have access to my company’s legal formation documents or operating agreements.
  • I have a sales tax license.
  • My business is in a regulated industry.
  • I have the required licenses necessary to operate my business.
  • I have access to legal assistance.
  • I have an Employer Identification Number (EIN).
  • I have a DUNS number.

Taxes

  • I am current on my payroll taxes.
  • I am current on my sales taxes.
  • My current and prior year taxes are up to date.
  • I know my tax liability.
  • I am on a payment plan with the IRS.
We started with build institute

This checklist was developed in 2018 by MICHIGAN COMMUNITY RESOURCES. To view the original: https://neinsights.org/wp-content/uploads/2020/12/NEI-CapitalChecklistBooklet-1.pdf. This work is licensed under the Creative Commons AttributionShareAlike 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/4.0/.