Writing business plans for the SBA means following a specific set of guidelines. Failing to include any of these elements may mean that you'll either be rejected for funding, or that you'll have to make revisions to your business plan before securing the capital you need to get your business started. Before getting started with any business plans for the SBA you should know some basic facts. For instance, while the SBA doesn't actually offer entrepreneurs direct loans, they do guarantee loans of up to $250,000 for most entrepreneurs through partner banks. These bankers look for particular things in business plans for the SBA loan program. These include the following, according to the SBA's website:
• A description of your business, including information about marketing, competition, personnel, and operations.
• Financial data, which includes loan applications, capital equipment, a three year financial forecast, and assumptions.
• Supporting documents, including principals' tax returns for at least three years, as well as copies of proposed leases, licenses, or letters of intent from suppliers.
Are you still not sure how to go about writing business plans for the SBA? The industry leader in business plan writing – MasterPlans – has written thousands of business plans for entrepreneurs seeking SBA funding. Some of our plans have not only helped our customers secure SBA funding, but they've also helped them start the profitable business they've always dreamed of owning. For more information about how we can help you write business plans for the SBA give us a call today at 877-453-2011. We can give you specific details about how we'll help you achieve your personal goals. Don't wait - the call is free and so is the consultation!
