Tom has 15 years of experience helping small businesses evaluate financing options.
This article is part of a larger series olan Business Financing. Businesses applying for a loan through the Small Business Administration SBA can benefit from a well-prepared business plan. An SBA business plan is a strategic document that lays out the business plan template sba gov of your business and the steps you will take to meet those objectives.
Why an SBA Business Plan Is Important
Using an SBA business plan template can simplify the task of creating your business plan and possibly improve the odds of your loan application being funded. An SBA business plan is important because it provides a strategic framework for how your business will operate. Taking the time to do research and assemble the various aspects of a business plan forces you to focus on areas of your business plan template sba gov operations templat you may have otherwise overlooked.
Small businesses that seek funding, especially in the form of SBA 7 a loanswill find that SBA lenders require the submission of a business plan with their SBA loan application. Lenders want to be assured you have a viable sbw for success.
Starting & Managing
Your business plan, if business plan template sba gov researched and prepared, can provide that assurance. An SBA business plan template follows the same format as most traditional business plans and is composed of nine major sections that describe your business. We have created a downloadable checklist and SBA business plan template to help assist you.
The key components you need to include in your SBA business plan are executive summary, business plan template sba gov description, market analysis, organization and management, product or service offered, marketing and sales, financing request, financial projections, and supplemental information.
An executive summary is an introduction to your business plan. This summary should not exceed two pages. The aspects of your business that should be mentioned in the executive summary include:.]