Writing a business plan is essential at the start of any business – but its use does not stop there. Your business plan should be consulted and reviewed at any important turning point of your business to ensure you are still meeting your goals and objectives.
A business plan is an invaluable resource during the loan application process. Most lenders will require an up-to-date and comprehensive business plan that outlines your business structure, management, finances and operations. It should include all information the lender might require to make an informed decision about your business and your loan application.
The outline for your business plan might look something like this sample business plan.