Homebook Funding Helper · Before you apply
Grant and loan applications for a small school ask for the same handful of things again and again. Getting them ready once, before a deadline shows up, is most of the work. Here’s the list in plain English, with the funders on our list that ask for each one.
Funders want to know who they’re paying: a registered business (an LLC, a corporation or a nonprofit) with its own Employer Identification Number from the IRS. The EIN is free from the IRS.
Asked for by The Lending Lab and U.S. Small Business Administration.
A dedicated account in the school’s name, with no personal spending mixed in. Lenders call mixing them “commingling,” and it’s one of the first things they check.
Asked for by The Lending Lab.
Bookkeeping reconciled every month, and payroll run properly rather than paid informally. A lender reads your books to judge whether you can repay.
Asked for by The Lending Lab and U.S. Small Business Administration.
What you expect to bring in (tuition, EFA, fees) and spend (rent, staff, curriculum, insurance) each year. Lenders also want to see that the new loan payment fits inside that budget.
Tip: The Lending Lab asks for the model in Excel (XLSX), not PDF, so its underwriters can see your formulas. It points founders to a free model at budget.schoolstack.ai.
Asked for by The Lending Lab and U.S. Small Business Administration.
Funders want evidence that families have committed, not just shown interest: signed tuition contracts or enrollment agreements, plus deposits that match what the agreement says. Good attendance records help too: they show students actually come.
Tip: Whatever school software you use should export enrollment and attendance numbers without retyping. Homebook, for example, lets a director download students and attendance as a spreadsheet (CSV) from Settings. Never send a funder student names unless it asks for them through a secure process.
Asked for by The Lending Lab.
Where the school meets and what it costs. A finished lease isn’t always required up front; a draft lease, letter of intent or written plan can be enough to start.
Asked for by The Lending Lab.
General liability coverage in the school’s name. The Lending Lab asks for $1 million.
Asked for by The Lending Lab.
A short, honest story: why the school exists, what learning looks like there, and which families it serves. Several funders ask for little more than this, plus a photo.
Asked for by Drexel Fund, Kiva and WomensNet.
A website isn’t always required, but funders want to see the school exists. WomensNet says a company social media profile is very helpful.
Asked for by WomensNet.
Small-business loans usually look at the founder’s own credit and ask you to personally guarantee the loan. That means you owe the money if the school can’t pay it.
Asked for by The Lending Lab.
Many grants are for 501(c)(3) nonprofits only. Schools come in many forms: LLCs, corporations, sole owners, nonprofit corporations still waiting on 501(c)(3) status, 501(c)(3)s and church ministries. What decides most grants is 501(c)(3) status: if your school doesn’t have its own, most nonprofit-only grants are closed to it directly. Some founders set up a separate nonprofit, or work with a fiscal sponsor (an existing nonprofit that receives and manages grant money for a charitable project). Whether either fits a for-profit school is a real legal and tax question. Ask a CPA or attorney before you change anything.
Tip: Our plain-English explainer, “Your school isn’t a 501(c)(3). Can you still get nonprofit grants?”, is at gethomebook.com/funding/fiscal-sponsors.
Asked for by Drexel Fund, Arkansas Community Foundation and First Electric Cooperative.
The one folder of documents most loans, grants and EFA approvals ask for, and what each funder on our list wants.
Requirements change. Each item below is tied to a funder that asked for it on its own site on the date shown. Confirm with the funder before you apply.
Most applications ask for the same handful of documents. Gather them once:
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| Funder / program | What it asks for (from its own site) |
|---|---|
| The Lending Lab | EIN; business bank account in the legal name (no commingling); $1M general liability; five-year model in XLSX; monthly books (QuickBooks Online) and formal payroll; lease/LOI/facility plan; signed tuition contracts with deposits; personal guarantee |
| Communities Unlimited | Collateral; personal guaranty; startups need "an alternative source of income" |
| SBA 7(a) | For-profit; owners of 20%+ "generally must guarantee the loan" |
| AdelFi | Membership; about 3 years of financial statements plus year-to-date |
| America's Christian CU | Organization membership |
| Arkansas EFA participating school | Accreditation (or in process, with a progress report by Sept 30); one year operating OR a CPA note on insurance and capital OR a surety bond/letter of credit; background checks and fingerprinting by Aug 1; norm-referenced testing; valid building occupancy; published discipline procedures |
| Arkansas EFA service provider | Background checks; staff credentials; a price list; core-subject attestation; surety bond at $100K+ |
| Walmart Spark Good | NCES number or 501(c)(3); verification through Deed; local service area |
| Whole Foods garden grant | Nonprofit private school (or public/charter) |
| Dollar General Literacy | IRS nonprofit, public library, school or college; within 15 miles of a store |
| Voya Unsung Heroes | Employed by an accredited school |
| Fund for Teachers | Full-time teacher, 3+ years, 50%+ instructional time |
| Arkansas State Parks Field Trip Grant | Program scheduled with a park first; apply via HumanitiesAR.org |
| HSLDA Compassion | HSLDA membership; financial-need documents; list of major purchases; two character references |
| Verizon Digital Ready | Complete two courses/events by Dec 7, 2026; for-profit only |