Your plan should contain detailed information about the management of your firm, the company's finances and the reason for the loan.
How to Write a Business Proposal for the Bank by Kimberlee Leonard - Updated September 26, A business proposal, also known as a business plan, is necessary when applying for a small business loan at a bank.
The proposal should explain what your company does, the experience of management and have a concrete plan with contingencies that to generate revenues and pay the loan back. It is important to understand the requirements of each bank and the structure of the loan in order to customize a proposal for each specific institution.
Ask a lot of questions at the bank you hope to get a loan from. Inquire about the types and amounts of loans. Request information about the standard repayment terms and any collateral that will be required for the loan.
Create an outline of what you will need to place in the proposal. These section should be given headers and placed in a Table of Contents. Write each plan section. Use existing company data to create sales charts that project future earnings based on the influx of loan capital.
Add photographs of products, factories or locations. Include references to collateral that will be offered as leverage for the loan. Write a one page cover letter. The cover letter explains why your company needs the funds, how funds will be used and how your company is able to mitigate the bank's risk.
Summarize gross revenues and investment returns. Address the bank underwriting requirements. This section is a compilation of the data you obtained speaking with the bank loan officer and inputting company data demonstrating that your company can be funded under the parameters of the bank loan.
Don't rely on the bank to see how your company fits, show them. Hire an accountant if you are having trouble working the numbers to meet underwriting requirements.
Tips While you want to include all pertinent information, try to keep the business proposal under ten pages. Use charts, pictures and bullet points where possible to draw the reader's attention to important information.
Open a corporate account prior to applying for the loan to develop a relationship with the bank ahead of time. Showing positive revenues may help the bank feel more comfortable with lending you money. Warning Start up companies may not meet the underwriting requirements of a bank loan.
You may need to wait six months and increase revenues in order to qualify. Just because a bank was unable to fund you at one point, doesn't mean that will always be the case. How to Write a Buiness Proposal About the Author With more than 15 years of professional writing experience, Kimberlee finds it fun to take technical mumbo-jumbo and make it fun!
Her first career was in financial services and insurance.How to Write a Grant Proposal. In this Article: Article Summary Sample Grant Proposal Documents Getting Started Writing Your Proposal Adding Required Support Documentation Finalizing Your Application Following Up Community Q&A True grants can be very difficult to find and harder still to get.
It may not be easy to find the right grant, but when you do, properly completing the grant application. A proposal, as the name suggests, is basically a written document handed over to the seller or a producer to a consumer or a prospective buyer.
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