Business Plan for loan
Any new business venture starts with a business plan. A business plan is written in order to express the entrepreneurial vision of a business owner. It states the strategies and operations of the proposed venture. It is to be noted that a business plan is a much needed document while applying for a business loan. In order to make your business plan look professional, you can seek online and offline help from consultants, accountants or lawyers. Their advice and expertise can be of great help for you in this regard.
How to Create Best Business Plan for Your Business
To create a meticulous business plan, you need to go through in-depth research and analysis. Your business plan should be inclusive of all the details, and the content of your plan should be in tandem with the purpose of your business.
The main components of a business plan are:
1. Cover Page
Your business plan should have a cover page including your firm's name, address, telephone, fax, e-mail and website address (if available). The cover page should also mention the name and designation of the contact person, who is representing your firm. Likewise, funding source should also be mentioned from where you want to avail loan. Besides, the company logo should be there in the form of design, picture or image.
2. Table of Contents
Once the cover page is done, the table of contents should be incorporated by numbering each page and section for easy navigation to the rest of your business plan.
3. Executive Summary
Executive summary is the most imperative aspect of a business plan. It is likely that a lender or investor may carefully read the executive summary only. Hence, it is necessary to incorporate the executive summary succinctly so that your lenders do not face any difficult in understanding your business objectives. The summary should be inclusive of your business type, loan amount and loan usage.
4. Development and Production
It is mandatory to describe the details of the stages of development and production of your product or service in your business plan. It will help your investor in knowing how you you are going to allocate the money at each stage of your business.
5. Resource Requirement
Your business plan should include the type of resources that you will require at various stages of production. You also need to show a projected profit and loss statements as well as cash flow statements to your lender. Develop an organization chart with details of key members and personnel that you are going to recruit.
6. Format and Presentation
The business plan should be written in a proper format. It is better to type your document neatly in an easy to read size and style of font. Remember, it should not look unworthy to the lenders at any cost. It should have crisp pages with wide margins and graphs and pictures of good quality. Besides, the plan should be written in a concise and reader-friendly manner. It should be relevant and free from grammatical errors.
While submitting your business plan make sure that your documents are backed with necessary flow charts, images, market surveys, tax returns, detailed information of your employees and letters of recommendations.
Biz2Credit Can Help You Help Your Business Plan
At Biz2Credit, we can help you develop your business plan online precisely to get you loans quickly from varied lenders of the market. Biz2Credit is there to help you create customized business plan for getting both short-term and long-term business loans. Our professionals will guide you in every phase of the business plan writing process. We help you develop a business plan that is professional, concise and informative. With Biz2Credit's guidance, you can create business plan online that can fluently express your marketing strategy, financial plan, business operation process, and ownership structure.