Looking for a skeleton business plan for SBA guidelines? The requirements set forth by the Small Business Administration for the submission of business plans to the bank and not really any different from the standard criteria established by most banks themselves. A lending-ready business plan needs to show that you have a clear market opportunity and a solid grasp on how to pursue it profitably. The plan needs a set of projections illustrating the potential returns and making it clear that you can repay any loan you are seeking on time and in full. The business plan is not the only important consideration, of course, as your business credentials, personal credit and collateral, and the current financing environment all factor into every decision. However you can get ahead of the game by making a plan that:
• Uses current, convincing market data
• Is concise and compelling
• Shows that the industry is poised to sustain or grow
• Underscores how your experience in the market will help the business
• Demonstrates a clear understanding of the risks and challenges
• Acknowledges rather than ignoring the key shortcomings in your model, team, etc.
The business plan should also make a point of describing what the market need is and how your company can fill it – this is a big part of the SBA's vision for funding new and expanding businesses. You should also make sure that your start-up summary and use of funds analyses all balance and make sense. Allocations for marketing should be supported by a narrative section describing the methods you will use, and your team's expertise should be brought to the fore in a “management team†section. Finally, the pro forma model should show a minimum of three years of revenues and expenses along with a monthly look at the critical first year. Need assistance? MasterPlans is the industry's leading professional firm for business plan writing and we've made literally thousands of SBA-ready documents. Call today to learn more: 877-453-2011.
