Writing a Small Business Loan Proposal
A proposal is a very important document that should be prepared when seeking funding from any company, institution or firm. In fact, 98% of all major financiers will always ask for a proposal when considering funding of any business. Therefore, it is important to understand the qualities of a good small business loan proposal.
Look and Feel
The first thing that any panel or executive of a firm will look at is the appearance of the proposal. It is important to understand that these firms receive hundreds of proposals on a daily basis which makes it very important to ensure that your proposal is given a priority because of the way it looks. If the small business proposal is not written up to the required standards, then chances are that it won’t even get to the Chief Executive Officer’s office.
Answer the important questions
Away from the look and feel, it is important for the small business plan proposal to answer the most fundamental questions. Some of these questions are: what is the need for the product? How will the loan be repaid back? Why is the product being launched? And what gap will the project fill? If these questions are well addressed, chances are that the business loan will go through without any problem at all.
Strategies involved
The business proposal should also contain the approach to the strategies which will be used during the operation process. These strategies are the backbone of the proposal. For instance, it is important to understand the marketing strategy that will be used by the firm. Also, the management structure and the experience and expertise of the managers should be put into consideration. If all these strategies are put in place, then chances are that you will be in a position to get the loan.