Business Plan Writing for the SBA
Writing a business plan specifically for a SBA loan is difficult work.
This is primarily due to the fact that the Small Business Administration as well as your banker wants to see a significant amount of information regarding your business as it pertains to how you will generate profits, a positive cash flow, and ultimately repay your loan on a timely basis.
As such, it is imperative that you develop an extensive business plan that clearly showcases the operations and the anticipated financial results of your business over a five year period.
For most people, writing a business proposal or plan takes approximately 40 hours of work.
However, if you are pressed for time, then you can always hire a business plan consultant to complete this work on your behalf.
As per usual, you should due a significant amount of due diligence as it pertains to working with a business plan writer.
This includes understanding their success rate, the number of clientsthat they have completed this service for in this past, and how they will be able to effectively showcase your business to a potential banker or investor once the job is complete.
We strongly recommend that you review a number of potential business plan writers as it relates to how you can have the best possible plan available to you if you are applying for SBA loans, investor financing, or financing from third party sources.
After the writing of your business proposal/plan is complete, you should heavily focus on seeking to develop connections with local bankers and investors in order to raise the capital that you need in order to expand your operations.
If you are able to do this well then you will be an excellent candidate for the loan or equity financing that you are seeking through your business proposal.
Beyond raising capital, having a well written business plan will ensure that you are able to understand the direction in which you want to take your business during its first three years to five years of operation.
In all of the business plans that we have seen become most successful - a five year outlook is imperative in order to understand the results that are anticipated from your business.
Through future articles, we will continue to discuss how you can develop a business proposal that not only is geared towards capital raising but also is focused on your understanding of how you intend to enter your market and become successful.
This is primarily due to the fact that the Small Business Administration as well as your banker wants to see a significant amount of information regarding your business as it pertains to how you will generate profits, a positive cash flow, and ultimately repay your loan on a timely basis.
As such, it is imperative that you develop an extensive business plan that clearly showcases the operations and the anticipated financial results of your business over a five year period.
For most people, writing a business proposal or plan takes approximately 40 hours of work.
However, if you are pressed for time, then you can always hire a business plan consultant to complete this work on your behalf.
As per usual, you should due a significant amount of due diligence as it pertains to working with a business plan writer.
This includes understanding their success rate, the number of clientsthat they have completed this service for in this past, and how they will be able to effectively showcase your business to a potential banker or investor once the job is complete.
We strongly recommend that you review a number of potential business plan writers as it relates to how you can have the best possible plan available to you if you are applying for SBA loans, investor financing, or financing from third party sources.
After the writing of your business proposal/plan is complete, you should heavily focus on seeking to develop connections with local bankers and investors in order to raise the capital that you need in order to expand your operations.
If you are able to do this well then you will be an excellent candidate for the loan or equity financing that you are seeking through your business proposal.
Beyond raising capital, having a well written business plan will ensure that you are able to understand the direction in which you want to take your business during its first three years to five years of operation.
In all of the business plans that we have seen become most successful - a five year outlook is imperative in order to understand the results that are anticipated from your business.
Through future articles, we will continue to discuss how you can develop a business proposal that not only is geared towards capital raising but also is focused on your understanding of how you intend to enter your market and become successful.
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