A focused plan makes financing easier.
In this article
Purpose
Use of funds.
Numbers
History.
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Projections
Realistic.
Team
Experience.
Repayment
Cash flow.
A closer look
Long plans full of jargon do not impress lenders. A clear, short plan with numbers and repayment logic does.
Where to start
Gather three years of financials and write a two-page plan.
An example
An HVAC company wrote a short plan showing how two new trucks would add revenue. The loan was approved.
Common mistakes
Unrealistic projections, missing numbers and long text.
What to track
Track approval and actual results.
Questions to ask
What will the loan pay for? How will it increase revenue? How will we repay?
Make it repeatable
Update the plan yearly for future financing.
Price every call so it pays.
We help service businesses set clear policies, book better jobs and turn more calls into profitable work.
Frequently asked questions
What do lenders want in a business plan?
The purpose of the loan, financial history, realistic projections, market and team information and how the loan will be repaid.