SBA Loans in San Diego and nationwide
Suggestions From A Professional Business Plan Writing Service
Peter McMahon Business Plan Writer
The Small Business Administration (SBA) insures 75-80% of certain loans to small companies. The loans are made by your local bank and they do come with a list of qualifiers. Instead of a full Business Plan, the SBA has been accepting the Executive Summaries that are offer on this site, fulfill some of these requirements to get a loan in San Diego or nationwide.
In your Business Plan have:
Description Of Business
Provide a written description of your business, including the following information:
Type of organization
Date of information
Product or service
Proposed Future Operation
Resumes of each owner and key management members.
Personal Financial Statements:
SBA requires financial statements for all principal owners (20% or more) and guarantors. Financial statements should not be older than 90 days. Make certain that you attach a copy of last year’s federal income tax return to the financial statement.
Provide a brief written statement indicating how the loan will be repaid, including repayment sources and time requirements. Cash-flow schedules, budgets, and other appropriate information should support this statement.
Provide financial statements for at least the last three years, plus a current dated statement (no older than 90 days) including balance sheets, profit & loss statements, and a reconciliation of net worth. Aging of accounts payable and accounts receivables should be included, as well as a schedule of term debt. Other balance sheet items of significant value contained in the most recent statement should be explained.
Provide a pro-forma balance sheet reflecting sources and uses of both equity and borrowed funds.
Provide a projection of future operations for at least one year or until positive cash flow can be shown. Include earnings, expenses, and reasoning for these estimates. The projections should be in profit & loss format. Explain assumptions used if different from trend or industry standards and support your projected figures with clear, documented explanations.