Anyone that is applying for a business loan will need to create a business plan regardless of the loan type. Your business plan for a Fast and Easy loan is probably the most important loan document you will submit. Your business plan will give Fast and Easy the information needed to assess whether or not your business is profitable, and lets the lender know if you have the assets to repay your debt. Since the goal of any good business plan is to show Fast and Easy that you maintain a profitable business, the details you include should be directly related to your company’s ability to turn a profit. Fast and Easy offers easy access business loans for many existing business types, and offers fast approvals and fast cash. Since Fast and Easy Funds wants to help your business get approved for more cash today, here is a guideline for writing a business plan for your loan.
Business Purpose: The business purpose is a statement of what your business does. This section is for showing that there is a need for your particular product or service in your chosen market. The business purpose should state why this needs to exists, the profit margin, and the way in which you are filling these needs.
Cost Analysis: The next step to writing your business plan for a Fast and Easy loan, is carrying out a thoughtful cost analysis. You will need to evaluate how much money you spend when bringing your product or service to the market. This is a complete cost analysis that includes materials, salaries, consultant fees, marketing costs, and license fees. Lenders want to see that you have completely assessed your financial situation before you apply for a lump sum.
Expertise: After you have shown the demand for your service and disclosed the cost to the lender, you must now prove that you are the right person for this job. You will need to enclose the most applicable experience that you possess and if need be, you can hire experts to add to your team in order to vamp up your company’s expertise.
Market Analysis: Address any competitors that you have in your field. Showing a business loan lender that you know that your competitors exist and that you display competitive advantages, will show business loan lenders that you have a greater chance of success. This can be an innovative model, a superior product, or simply a better brand.
Profit Projections: Offer Fast and Easy Funds the hard figures that estimate how much you are actually making and what your company is actually worth. Include estimated numbers that project your company’s growth over the next few years. Include how you will be meeting the loan payments, as well as how you project your company to grow. The more that you detail your profit analysis, the better.
Keep it short: When it comes to drafting your business plan for a business loan, make sure that you add all-encompassing information of necessary items, but make sure that your business plan is not too long. Lenders don’t necessarily read plans word-for-word and they look for key terms and highlights. Put your bottom-line up front and highlight your most important qualifications.