|
|
Like this article? PLEASE +1 it! |  |
|
Writing A Business Plan For the Bank. What Do They Want To See?
| Guest post by: Lee Lister |
Article Overview: You have been asked to write a business plan by your bank so that you can borrow that much needed money or extend your overdraft. What are they expecting to see?
 |
Free Download - What Type of Business Should I Start? By Lee Lister |
Writing A Business Plan For the Bank. What Do They Want To See?
You have been asked to write a business plan by your bank so
that you can borrow that much needed money or extend your overdraft. What are they expecting to see?
Vision - they want to know that you have a clear
vision as to where your business is going and where you intend it to be in a
few years.
Commitment – this
included a fair investment from you as well as the time, health and stamina to
invest time and effort into the business.
Security – the bank
is a business and will expect to have something valuable from you in exchange
for your loan. This can include
something tangible from your business but they also look to your private life
as well so expect to be asked about your own real estate.
So if you are asking for money for a new internet only
company with little investment on your side and no security available your
chances of obtaining a loan are very low.
Yes I know that google, facebook etc. all obtained loans at some time
but that is because they had the following three things.
Potential – a lender
wants to know that they will get their money back with considerable
interest. Your business must have
potential to make a lot of secure profit in the future. This is how market breaking companies get
funded.
Experience – if you
are a start up company they want assurance that you have the experience to run
it and produce the services and products that you are selling. If you are an established company they want
to know how you have been doing recently and what orders you have in the
future.
Market - you must show that you know and understand the
market for your products and services and that this market exists for some time
to come.
Financial Planning
– you must show that you have looked at all the financial aspects of your
company and have a good strategy for utilising the money you are borrowing.
If you show all of this in a good, well thought out business
plan you are well on the way to raising funding. Good luck!
Why is a Business Plan Important?
What is a Business Plan?
10 Perfect Ways to Make Any Commercial Lender Angry
Making a plan for your home business
How to Choose a Business Plan Writing Service
I've got a business idea - what's next?
Business Plan Writer
Are Business Plans Obsolete?
Create A Business Plan
Is your slogan authenticated by your story?
Need a Bank Line of Credit Use a Bank Guarantee BG Program
You Know What Your Business is Going to Be, Now What? Steps to Open a Business
Business Plan Basics
Finding Funding
The Franchise Business Plan
Should You Spend Time Planning This Year?
Pros and Cons of Online Banking
Business Planning - It's The Second Quarter, Do You Know Where Your Business Is?
Effective Tips on Writing your Affiliate Home Business Plan
Which Business Plan Software is For Me
|
About the Author: Lee Lister RSS for Lee's articles - Visit Lee's website From an early age she began an unparalleled journey through business consulting that continues to span across the UK, USA, Europe and Asia. She has consulted for a considerable number of companies all over the world. Specialising in business change management, start up consultancy and trouble shooting. Lee's experience in marketing and internet marketing is also keenly sought after. She is a prolific published writer of books, ebooks and articles and can easily be found on major search engine and Amazon. Her books include: FastTrack Bid Management, Proposal Writing For Smaller Businesses, How Much Does It Cost To Start A Business, Entrepreneur's Apprentice and a series of Start My New Business books that do as they say in the title! Her major web sites are: Click here to visit Lee's website   When You Need A Professional Tender Writer Entrepreneurs Want to Start An Online Estate Agency Or Real Estate Company Entrepreneurs Are You The Victim Of The Time Thieves Entrepreneur How Not To Have A Bad Employee Venture Capitalists What Makes Them Tick |
Related Forum Posts
New Small Business Topic
- Hello everyone,
I'm on the lookout for new topics to add to my site. We just launched a Franchising section and are planning Human Resources section. Do you have any thoughts for a new section?
Here's a list of what we currently have:
Angel Investors
Branding
Bank Loans
Business Coaching
Business Plan
Franchises (New)
Insurance
Legal
Marketing
Public Relations
Sales
Small Biz Loans
Venture Capital
You can see my Bank statement.........
- Hi there,
Today we are bombarded with 'Business Opportunities' by the multitude.
I believe it is possible to earn a lot through the internet, but it is hard work. Nobody gets it very easy on a long term basis.
[b][b]How much notice do people take[/b], [/b]when the Bank Statements are shown as means of 'how credible' their business idea is?
Are they always totally true? They look authentic.
The whole industry is growing rapidly.
What is your experience? Is there any regulation in presenting the 'Bank Statement' or other statements from 'Click Bank' etc ?
Kindest Regards
Beat
"Unlock People's Potentials!"
Business Innovation
- Hi Simon
If you can finish off the Business Plan and think about your strategic direction or how you are going to use your product to convince people it's a great idea, it will set the foundation for your programming project. You see, when you are looking for funding you will need a Business Plan and Strategic Plan that will convince companies to invest into your new idea.
Has anyone achieved this idea before using another industry besides health and fitness that you know of?
You should also design some mockups as a "preview" for your programming project. This will also help reduce your programming costs as everyone will know exactly what you want if you have detailed mockups already completed including any functionality you require.
Starting mockups for websites and software applications on paper is the best way if you're not a guru in graphic editing software.
BDC
- [quote="IWDCanada":jib6tqt9]I think if you try to do business in the Maritimes the Business Development Bank of Canada might be able to provide grants.[/quote:jib6tqt9]
On that note, does anybody have any experiences with the Business Development Bank of Canada that they would like to share? I have been considering approaching them for a business loan.
Re: BDC
- [quote="Jones":255lkmrn][quote="IWDCanada":255lkmrn]I think if you try to do business in the Maritimes the Business Development Bank of Canada might be able to provide grants.[/quote:255lkmrn]
On that note, does anybody have any experiences with the Business Development Bank of Canada that they would like to share? I have been considering approaching them for a business loan.[/quote:255lkmrn]
I'll be working with the BDC later this month on a few projects. From what i've been told they are really great when it comes to small business. Their loans have a little higher interest but their payment terms are a lot easier to swallow. I can give you a contact if you need.
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
by: 
Best Automated Forex Trading Strategy
Build Your List with Joint Venture Giveaway Events
May 2012 Top 100 Social Media Experts to Follow on Twitter
What to measure to be phenomenally successful in business
10 mistakes of media relations
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.