Do I Need A Business Plan To Acquire Business Loan?

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4 Answers

Nicole Adam Profile
Nicole Adam , Marketing and Finance Blogger, answered

Almost
all traditional lenders require candidates to provide a written strategic
business plan that describes the character of the business, target audience,
character of competition, marketing strategy, and listing of likely expenses.
Lenders frequently require financial models and documents such as projected
income statement, balance sheet and profit statement.

thanked the writer.
Funding Easily
Funding Easily commented
As the answer here correctly puts across, almost all traditional lenders require a business plan, and more as well such as profit and loss statements, tax returns, and personal financials of the owner also at time and more. There are however loan options that do not require all this and can be processed with minimum paper work such as MCA loans. https://fundingeasily.com/
Anonymous Profile
Anonymous answered

Well, how do you figure out how much money you need for business if you don't have a business plan? It's one of the most important steps before starting your own business. Just think about it, analyze competitors, and create a business plan. If you need money, get a payday loan here https://maybeloan.com/payday-loans/tx

Kira Smart Profile
Kira Smart answered

It shouldn't be easy to get business loans, especially for start-ups, the risk for the bank is very high. If the government intervenes to make business loans easier I guarantee you it would create a bubble. What you could possibly do is get a revolving line of credit which are typically based on your assets and cash on hand, rather then business income. Similar to a credit card, but with much better rates. Use info from this resource https://lånepenger.no

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