Money for a Small Business

Business Plan Tips from the SBA

More of this Feature • Money for a Small Business • Business Grants? States Have Them • Planning a Business • SBA Loan Programs • Women / Minorities • SBA Links     Related Resources • Grants - No Free Lunch • Money - No Grants • Avoid Business Scams    From Other Guides • Working with Lenders • Veterans' Resources • Women-Owned Info • Working at Home • Family Businesses • Legal Assistance • Tax Guides • Small Business Canada • Small Business UK    Elsewhere on the Web • The SBA Web Site • Official Size Standards • Business Development Centers • Women's Business Center • Help from SCORE • Forms for SBA Loans

There may only be one sure-thing in starting your own business, and that is that you will not get a loan without a complete business plan. No plan - no loan - no business.

Here, from the U.S. Small Business Administration, is a suggested outline for a business plan that should get any lender reaching for their back-pocket.

Elements of a Business Plan

1. Cover sheet

2. Statement of purpose

3. Table of contents

I. The Business

A. Description of business

B. Marketing

C. Competition

D. Operating procedures

E. Personnel

F. Business insurance

G. Financial data

II. Financial Data

A. Loan applications

B. Capital equipment and supply list

C. Balance sheet

D. Breakeven analysis

E. Pro-forma income projections (profit & loss statements)

• Three-year summary
• Detail by month, first year
• Detail by quarters, second and third years
• Assumptions upon which projections were based

F. Pro-forma cash flow

• Follow guidelines for letter E.
  
  

III. Supporting Documents

• Tax returns of principals for last three years
• Personal financial statement (all banks have these forms)
• In the case of a franchised business, a copy of franchise contract and all supporting documents provided by the franchisor
• Copy of proposed lease or purchase agreement for building space
• Copy of licenses and other legal documents
• Copy of resumes of all principals
• Copies of letters of intent from suppliers, etc.

Need some help with that?
Breakeven analysis? Pro-forma cash flow? Feel like you might need to hire an MBA to help you write a good business plan? Well, save your money, because the SBA offers plenty of FREE business planning help.

 

New posts to the Gun Control Debate forums:

GUNS AND CHILDREN WHO IS RESPONSIBLE.CARRY CONCEALED FAKEA tragic poem with important message

Subscribe to the Newsletter
Name	Email