Writing a business plan?
I'm going to set up my own business but I'm not sure how to start writing a business plan for the bank to see for loan applications. What do I include and What do I leave out? How do I begin it and how do I lay it out?
I'm going to set up my own business but I'm not sure how to start writing a business plan for the bank to see for loan applications. What do I include and What do I leave out? How do I begin it and how do I lay it out?
Anonymous
Favorite Answer
Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.
Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
Anonymous
A small business loan is one of the most treasured commodities in the business world. It is still very hard to get despite the claims and promises of banks, credit unions, and other lending institutions that they want to help American small<!--business to survive and grow. In fact it sometimes seems that banks and other lenders want to see small businesses fail and only support those that survive the battle for customers, revenues, and finances during their first two years.
http://best-loans.awardspace.com/businessloans.htm
Getting a small business loan is most difficult during these first two years, when most businesses face a myriad of challenges involved with not only opening their doors, but hiring and training staff and meeting the demands of customers, clients-->suppliers and vendors. The main reason that the banks use for not granting many loans during this period is like the same reason that a student can’t get a job coming out of school. They don’t have the experience.
Soapyguy
There is an instrumentality of the SBA called SCORE, I highly recommend using this rescource if it is availible to you. They are a society of retired executives, and try to match you up with a mentor who has been in your industry or a similar industry. Things they can do for you include reviewing your business plan, access to a library of industry information and marketing data etc.
http://www.score.org
The Small Business Administration has forms that will help you with a business plan. An outline can be found here along with good information on what kind of research and numbers you will need, as well as places to get the data.
Hank C
first do loadsa research collect as much info as posiable, get price quotes on premesis electric bills and so on, depending on what your doing you must know roughly how much you'll be taking in a week/month make, the big thing banks want to see is a cash flow chart, (money in, money out) and time aswell, everything needs a time scale, hourly rates, garenteed work/contracts, just everything to do with your business really, do a thick folder to start off with, then narrow it down/ summerise it. dont list every little detail like (mugs $1.99) lol, just put office expenses $1200 or wat ever.