A couple of days ago, I got an email from someone wanting to apply for an SCBWI WIP Grant who had run across my articles from last year:
Part 1: Grants open doors, and
Part 2: Some tips on applying.
She also asked about the application process, and how to format answers (that, I think, would depend on your answers) and how much personal information to put in the Career Summary/Background section.
I'm not sure if the questions are still the same as the year I applied, but I would encourage you to think of these as part query, part personal essay. You want to stand out - not in a gimmicky way, but in a way that shows the heart of your work...and in that sense, the heart of YOU. What was your story inspiration? What would the grant mean to you, to your writing life? Though I would by far spend the most time polishing your story excerpt - whatever you write on the application, your work will stand on it's own.
Good luck, and let me know how it goes!