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    5 Replies Latest reply on Jan 8, 2011 9:38 PM by SmallBusAdviser

    How to complete financing figures for my buisness plan

    defense1 Newbie

      hhhh

        • Re: How to complete financing figures for my buisness plan
          defense1 Newbie
          over 300 views and not one helpful answer?
          • Re: How to complete financing figures for my buisness plan
            defense1 Newbie

            well to follow up on my own question to help others thought that I did not receive any help in reference to this community.  I have since then hired an accountant to help complete this section.  We are going over how the business will grow in the next three years and to document this in the appropriate section of the business plan. 

            • How to complete financing figures for my buisness plan
              Bridge Navigator

              The SBA does not provide start-up money.  They guarntee loans from banks so that banks will be more likely to make loans to risky businesses.  That being said, it is still hard to obtain a loan for a start-up.  Many banks that advertise SBA loans, do not actually make loans - they just like to say they do.  When screening banks, ask them how many SBA loans they have actually made in the last 6 months.  You also might want then to differentiate between asset backed loans; i.e. real esate, versus cash-flow based.

               

              Best of luck,

              Greg

              • How to complete financing figures for my buisness plan
                Newbie

                Pardon my frankness, but it appears that you are a long way from seeking outside capital.

                 

                Just are few questions based on my understanding of your post. Depending on your answers (which you are under no obligation to supply), I may be able to provide beneficial insights that would prevent professional and financial heartache down the road.

                 

                1. What market segment and sub segments are you targeting? (e.g., small businesses, large businesses, residences)

                2. What is your "strategic differentiator"? (What will set your firm apart from your competitors?)

                3. Which firms are your primary and secondary competitors? Why do feel they are competitors?

                4. What industry association(s) have you used thus far in your business plan preparation? (They can be an excellent resource for fine tuning all business plan components.)

                5. Of the start-up funding you plan to seek, what percent of the total capital requirements are you willing to provide from personal resources? (Just wondering about the %, not the dollar amount.)