5 Tips for Writing a Business Plan For a Loan

5 Tips for Writing a Business Plan For a Loan

  • Begin with a statement of purpose. You should be able to explain your business in 25 words or less.
  • Tell how your business will work and why it will be successful. List the owners.
  • Fill in the business details. Describe its products or services, the customers, the market and the competition. List the managers and their credentials.
  • Supply three years of projected financial statements. Include income, loss, and cash-flow projections.
  • Provide supporting documents, such as references from creditors and potential clients and suppliers, evidence of insurance and the like.

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