 |
| | | |
|
Web Based Project Management Software Article
| How To Apply For a Business Loan |
| By: John Mussi |
Worried about how to apply for a business loan? Although it may seem like a daunting task at first, it can be made less so by careful preparation. When applying for a business loan, you must prepare a written loan proposal. Make your best presentation in the initial business loan proposal and application; you may not get a second opportunity.
Always begin your proposal with a covering letter. Clearly and briefly explain who you are, your business background, nature of your business, the amount and purpose of your loan request, your requested terms of repayment, how the funds will benefit your business, and how you will repay the business loan. Keep this cover page simple and direct.
When writing your proposal, don't assume the reader is familiar with your industry or your individual business. Always include industry-specific details so your reader can understand how your particular business is run and what industry trends affect it.
Provide a written description of your business, including the following information:
Type of organization
Date of information
Location
Product or service
Brief history
Proposed Future Operation
Competition
Customers
Suppliers
Management Experience:
Resumes of each owner and key management members.
Loan Repayment:
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.
Existing Business:
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.
Proposed Business:
Provide a pro-forma balance sheet reflecting sources and uses of both equity and borrowed funds.
Projections:
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.
Collateral:
Provide a list assets to be held as collateral. Few financial institutions will provide non-collateral based business loans. All business loans should have at least two identifiable sources of repayment. The first source is ordinarily cash flow generated from profitable operations of the business. The second source is usually collateral pledged to secure the business loan.
Depending on your particular circumstance you may need to provide one or more of the following documents:
Lease, Franchise Agreement, Purchase Agreement, Letters of Intent, Articles of Incorporation, Plans, Copies of Licenses, Letters of Reference, Contracts or Partnership Agreement.
You may freely reprint this article provided the author's biography remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
|
|
| Keywords: management, business provide, project management, projections, customers suppliers management, management experience resumes, projection, loan proposal, suppliers management experience, business loan |
Project Management News
Helpful Web Based Project Management Software Links
Achievo Project Management Software
... Achievo Project Management Software. Achievo is a flexible web-based free project management tool for ... businesses. Achievo's project management capabilities will enable organizations ...
Project Management Software - Web Based Project Management Software from ProjectInsight.Net
Project Management software that manages projects with ease and innovation, communicating all necessary details to your staff via the web. ... Project Insight is 100% web based project management software that permits teams to collaborate on ... work together using the same project management tool. Project Insight Advantages: ...
Web Based Project Management Software Tool
Easily the best value in web based project and timesheet management. Very flexible and powerful. Hands down the best for projects with 5 or 500 users with worldwide user base. ... Comprehensive web based project management tool ... Contact Us. Web based project management software ...
Web Based Project Management Software
If you are looking for the one of the best web based project management softwares available, eStudio from Same Page has the versatility you are looking for. ... eStudio's TaskTracker system for web based project management to enhance your team's ... daunting your project, eStudio 6 is the web based project management software for the job ...
Project Management Software, Web Based
Vertabase Pro offers top-rated web based project management software, project tracking software, online project management, hosted project management with five star customer service. ... Vertabase Pro, a leading web-based project management software application for business, has been nominated as the Best eBusiness Software in the eighth annual SYS-CON ...
Project Management Software, Vertabase, Web Based Project Management Software
Vertabase Pro offers top-rated web based project management software, project tracking software, online project management, hosted project management with five star customer service. ... things better, not chasing information. Centralized project tracking software helps avoid confusion. On-demand, web based project management software that works, gives you clarity ...
Project management software, help desk software, time timesheet, bug tracking, online calendar, document file ...
... AceProject - Project Management Software: Web-based project management software. Manage multiple projects ... Track your tasks organized by project. Define statuses and priorities for ...
Tem 1200 - Web-based Time and Project Management Software
TEM 1200 - web-based timesheet and project management software for non-profit organizations and small Businesses ... Time tracking, expense reporting, project management, and keeping a handle ... requires no special hardware or software.* All you need ... office, or at home, management of your projects is ...
Easy Projects .NET - Project Management Tool & Project Tracking Software
Easy Projects .NET is a web based project management software application featuring a set of task tracking tools for managing versatile software projects. This tool makes software project management & tasks tracking hassle-free and ... it was specifically designed to make web-based software project management and task tracking hassle free and ...
Project management software, collaboration team and workgroup, project tracking and project manager
Free project management software, collaboration team and workgroup, project tracking and project manager. ... AceProject: Web-based project management software. Manage multiple projects or teams online. Track your tasks organized by project. Define statuses and priorities for your tasks ...
|
|
