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Below is an outline of
the items that should
be contained in your business plan.
1. Description of the Business
The
name and location of the business.
Who are the principal owners of the business? (anyone that owns more than 20%)
What is the legal structure of the business (proprietorship, partnership, corporation.)
Provide a history and description of the business (past, present, future.)
2. Product or Service
Describe product lines or types of service you offer or plan to offer.
Describe the materials needed and sources of supply.
What are your methods of production or how will you deliver your services?
What is the quality and cost of each product or service?
Describe any research and development process you have.
Describe any future products or services you plan to offer.
3. Market Information
Define your market area and describe possible market trends.
Who are your current customers and your potential new customers?
Define a list of your competitors (names, locations and sizes.)
What are the advantages of your product/service over others?
What are the opportunities for growth in your business?
4. Advertising
What will be your methods of advertising (newspaper, word of mouth,
Internet?)
What is your advertising budget?
What are your sales methods (cash, credit, credit cards)
How will you price your product or service? (your pricing policy)
What are your customer service policies including the handling returns and
dissatisfied customers?
5. Facilities
Where will the business be located?
What is the physical size of your business?
Are there any zoning requirements or restrictions?
What is the age and condition of facility and any improvements?
Do you have any expansion opportunities?
6. Management and Personnel
What is Management's expertise?
Provide resumes of owners and managers.
Who are the key personnel? (their positions and their qualifications.)
Professional services (who is your attorney and accountant?)
Present and future staff and personnel requirements.
Wage and hours breakdown.
7. Loan Request
Total project costs.
Loan amount requested.
Describe how the loan proceeds are to be used.
Describe any other possible sources of funds that could be used.
8. Financial Information
Historic information (go back three years)
Current information (no more than 90 days old)
Projections (two full years of balance sheet and income statements; and one year
cash flow)
9. What are the benefits to the community If the loan is granted
Number of jobs created/retained
Building rehabilitation
Meeting community needs
10. Include a Summary of Future Plans
Short-range (1 year) and long-range (5 year)
Expansion (add more employees, acquire a larger facility)
Possible relocation of the business
To assist you in developing your business plan go to our "Business
Plan Downloads" page and download a sample copy of a business plan and
financial spreadsheets