Securing funding for your business can be a game-changer, and at Skip, we’re awarding $100,000+ in grants monthly to help entrepreneurs grow. If you’re looking to win the $5,000 Funding-Ready Grant, you’ll need more than just luck—you’ll need a strong application and a complete business setup.
This guide will walk you through exactly how to maximize your chances of winning, including what we look for in applications and how to meet the Business Checklist requirements.
Step 1: Nail Your Written Responses (50% of Your Score)
Your written responses are your opportunity to showcase your business and funding plan in a compelling way. Here’s what you need to focus on:
✅ Your Business Mission – Clearly define your business’s purpose, values, and goals. How does your business make an impact in your industry or community? A strong mission builds trust and credibility.
✅ How You Would Use the Grant Money – Be specific. Break down how the $5,000 will drive business growth or solve a challenge. The clearer your plan, the stronger your application.
✅ How You Meet Customer Needs – Who are your customers? How do you serve them better than competitors? Use real examples or testimonials to prove your impact.
✅ Business Description & Offerings – Provide a concise but detailed explanation of your business, what you sell, and what makes you unique. Whether you offer products, services, or both, emphasize why customers choose you.
💡 Skip’s Tip: Keep your responses concise but impactful. Use AI tools or writing assistants to refine your answers for clarity and effectiveness.
Step 2: Complete the Business Checklist (50% of Your Score)
The second half of your application score comes from ensuring your business is fully set up and funding-ready. To maximize your chances, you’ll need to have these six essential business documents:
✅ Business Incorporation or Registration – Ensure your business is legally registered. Or if not legally registered, proof that your business is legitimate.
✅ EIN (Employer Identification Number) – Obtain an EIN to verify your business identity for tax purposes.
✅ Business Plan – A clear, structured plan demonstrating how your business operates and grows.
✅ Business Bank Account – Have a dedicated business bank account for managing finances.
✅ Business Credit Card – Establish credit for your business.
✅ Website – A fully functional website that showcases your business professionally.
💡 Can I Still Win If I Don't Have All Of These 6 Documents?
Yes and no. Here's clarification. We highly recommend doing your best to complete all six. Some of these you may consider optional — perhaps the credit card in particular. Our data shows that entrepreneurs with these 6 completed are significantly better positioned when applying and getting approved for other funding, including financing.
If you are missing 1 or 2 of these, you can still win, but your score will be affected accordingly (partial credit, if you will). Therefore, we recommend reviewing the business checklist here — and if necessary, using the links to complete the items.
Final Thoughts: How to Stand Out
With thousands of applications, standing out requires more than just checking the boxes. Here’s what gives you the best shot at winning:
🔹 Tell a compelling story – Make your mission and impact clear.
🔹 Be specific about funding use – Show exactly how $5K will help.
🔹 Complete checklist items – Missing documents lowers your chances - review the list here.
🔹 Ensure your website and business plan are strong – These are key indicators of business readiness.
⚡️ Final Tip: How To Beat Out 50% Of Entrepreneurs Interested?
Want to immediately beat out half of everyone that's interested - "Submit" your application on time. Believe it or not, around half of all folks who express interest in a grant on Skip never finish applying or miss the deadline. So, get ahead of them, and apply. And good luck!
