If you are applying for a bank loan to start a new business or are buying an established business, you will invariably need a business plan to present to the bank. The main options available to you for creating a business plan for a bank loan are to either download a bank loan business plan template from a website and do it yourself or engage a business consultant to do the business plan for you.
Taking either option will result in a business plan.
What’s a Bank Loan Business Plan Template?
When it comes to a business plan for bank loan, the purpose is to impress the bankers and secure your loan. A bank loan business plan is different from the standard business plan designed to generate business strategies and set the strategic direction of the business.
A bank loan business plan template is written with the specific objective of supplying the bank assessors with the relevant information for them to make a decision on whether they should take a risk on your business.
Once it has been recognised that the business plan is not about developing the business but explaining the business and the opportunities to the bank, we can customise the business plan to give it a better chance of achieving its objective.
To do this, we want to present the information in a professional manner and laid out in a logical format.
Writing a Bank Loan Business Plan
Over the years we have spoken to hundreds of business bankers and sought feedback about the business plans they have received from clients. The main comment is the number of business plans that are handwritten and that just are irrelevant. Most do not address the bank’s information requirements.
The time taken in sending feedback to the client, re-writing the business plan, reviewing it again, going back to the client to amend and to review again can stretch out to weeks.
The business banker managing the application is keen to assist to get the loan application across the line. However, they cannot assist in the writing of the business plan as they are an employee of the bank issuing the loan.
How BusinessPlans Can Help!
This is where a business consultant comes into their own. We have prepared several hundred business plans for bank loans over the years and have a very clear understanding of what banks require in the business plan and can, therefore, assist you in presenting the business in the most attractive light for the bank.
We receive referrals from banks, and therefore, maintain relationships with a number of bankers and keep abreast of the latest developments in the banks’ lending criteria, products and other issues surrounding business lending.
The main things to include are:
- Director’s industry or business management experience.
- What your contribution is in the establishment of the business.
- Capacity to service the loan.
- Security offered.
Our Money Back Guarantee
We are so confident of our ability in preparing business plans for bank loans that we are offering a 20% money back guarantee on the price of the business plan if your loan application is rejected. For more information, give us a call at 1300 630 330 or send us an email here.