12 min read
Choosing the Right Option to Fund Your Business Growth
Starting and growing a business is a challenging process that demands much more than just a brilliant idea. In the...
During our free, no-obligation consultation call, we'll tell you what your credit score, work experience, and equity stake need to be, and if you're not ready for a business plan yet, we'll explain the steps for you to get there. You can expect the same high quality of individualized attention throughout our time working together. And, at the end of our time together, we will make sure you understand everything in your plan so you can ace your loan interview.
This means creating a business plan that shows your company can meet debt service obligations, shows profitability inline with industry peers, and is built upon your professional experience.
Increasingly, some lenders are requiring existing businesses to submit a business plan that demonstrates how the company will use the capital to support operations, a sales and marketing strategy, client retention, and how these lead to increased customer lifetime value (CLTV).
But it also means checking off every box in a laundry list of sections and sub-sections that are required by the SBA. While some people may think of bank lending as being easier to obtain than equity investment, the Funding Circle dispels that myth, saying, “Because the government backs SBA loans, the application process is notoriously tricky, and SBA loan requirements considered among the most strict. The application process can be lengthy and detailed, and you need to prepare for plenty of paperwork.”
Schedule a 30-minute meeting so we can better understand your business, advise you on next steps, or develop a scope-of-work.
As a first-time SBA-loan seeker, you may struggle to wade through the list of requirements, understand what they mean, and find access to the research resources you will require to complete them. You may even wonder how extensive each section needs to be. For a Masterplans consultant, this is all second nature. The time you spend spinning your wheels trying to decipher the inscrutable is time you could be spending on other aspects of your business, while we take care of what we do best.
A professional business plan puts you in charge of the loan process, forcing lenders to compete for your business rather than the other way around.
You can easily submit to multiple banks, without spending hours describing to each banker, independently, how you intend to use the required capital.
A Masterplans commercial loan business plan will exceed the requirements that underwriters demand, allowing you to put your best foot forward and make a good first impression.
Mar 8, 2023 by Ben Worsley
Starting and growing a business is a challenging process that demands much more than just a brilliant idea. In the...
Mar 1, 2023 by Ben Worsley
I may be showing my age in this era of tap-to-pay, but I remember when many businesses displayed a framed one-dollar...
Feb 10, 2023 by Christina Hersey
If you've ever seen a customer persona, you know they are very detailed and easy to understand at a glance.
For those...
3.5 Weeks Average Project Timeline
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Schedule a 30-minute meeting so we can better understand your business, advise you on next steps, or develop a scope-of-work.