The Effective Business Plan

Elements of an effective business plan include:

  1. Keep information brief and relevant
  2. Documents which should be included:
    1. Three fiscal year end financial statements and/or Federal tax returns of the company.
    2. Current interim financial statements of the company.
    3. Personal financial statements and tax return of each owner.
    4. Justification of your borrowing needs.
      1. Purpose of loan proceeds.
      2. Amount.
      3. Timing.
    5. Documentation of how repayment of loan will occur.
      1. Historical financial results.
      2. Projected financial results.
      3. Collateral Summary.
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