![]() Include the main ticket financial items, such as revenues, net profit, cash balance, assets, liabilities, and shareholders’ equity. Key Financial Highlights and Projections.If you have any senior advisors with industry experience, include them here as well. Who are you? By this, we mean – founders, top management, and what are your professional and educational experiences? How many teams are there, and how many people in your organization? This is a glimpse into the personnel behind the business, so it’s important to highlight. What do you sell and/or do, and where? To whom do you do this? This is the ‘what’ and the ‘why’ – what is the problem your business is addressing, and why is it important? Why are you doing what you’re doing? So what goes into the executive summary? You may tweak the order of this, but in general, a good executive summary consists of five sections: ![]() The important thing to keep in mind is that the executive summary is, as its name implies, a summary – so it should be at maximum, 2 pages. ![]() We repeat, this is the most important section of your SBA Business plan! Not only is this the first section that potential lenders will take a look at, but on certain occasions, it may be the only page certain lenders can examine, if they are rushed, pressed or overloaded. This is the most important section of your SBA Business Plan. Smaller businesses and more niche companies will likely have a more thorough review because there is less comparison and history, so keep that in mind. Moreover, a robust SBA business plan facilitates loan approval because presenting it gives banks, lenders and other parties confidence in your business’ ability to be successful and repay the loan.īusiness plans, however, will vary depending on the nature and industry of your business. Apart from the basic eligibility requirements, the business plan is the primary focus of review committees and lenders, as it is the basis for assessment on what kind of return on investment (ROI) your business will provide. Let’s get started.Īn SBA business plan is an essential to your application because it will tell prospective lenders why your opportunity is worth pursuing and investing in. We will go through the nine essential sections you will need to put together the best SBA business plan that will create a strong, cogent and complete business plan that lenders will be invested in – literally. So what is a small business owner to do? The opportunity is still out there, and still worth pursuing! So we at FinModelsLabs have prepared this article, to help you build the best application, which includes creating an effective and compelling business plan. Less than 14% of applications are approved by large-cap banks (which have US$10 billion and more in asset size). However, the approval environment is still tricky and elusive. In 2020, the SBA’s flagship 7(a) loan program punched above its weight and made approximately 42,000 loans which granted over US$22.55 billion. The 9-Step Business Plan Template for Your SBA Business Loan Application Īre you a small- to medium-size business in the United States? If so, there has never been a better time to apply for a loan from the Small Business Association (SBA).
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