The Effective Business Plan
Elements of an effective business plan include:
- Keep information brief and relevant
- Documents which should be included:
- Three fiscal year end financial statements and/or Federal tax returns of the company.
- Current interim financial statements of the company.
- Personal financial statements and tax return of each owner.
- Justification of your borrowing needs.
- Purpose of loan proceeds.
- Documentation of how repayment of loan will occur.
- Historical financial results.
- Projected financial results.
- Collateral Summary.