Business Planning For Banks

New Business Loan_

We Write Plans For Banks

There are several reasons that may persuade you to seek a new business loan from a bank.

Not knowing about other options

You may not know that there are other finance options available when you apply for a bank loan. We recommend finding out about all of your options, even if it’s start up loan from the government, before you start the application process or accept a new business loan from a bank.

Not wanting to give away equity

You might be fully aware of the different investor schemes available but have no intention of giving away equity for your business in exchange for the amount of money you’re looking to get from the bank.

Not being offered investment from another source

It may be that you already tried to go down the investment route but the return of investment was not high enough for an external investor.

Not needing a lot of money

If you’re looking for under 20k or even £50k, a bank loan may be the right option for you. If that’s the case then we urge you to ensure your financials add up and that you are able to pay back the loan without causing damage to your life. – This is exactly what a bank wants to see, and that is where the business plan comes in.

Business Writing for Bank Loan

Writing a business plan for the purpose of attaining a loan from the bank is different to writing one with the hope of gaining investment from a venture capital, crowdfunding or individual investor.

The main difference between the two is that a banks only requirement is that the loan can be paid back with interest over a length of time.

Are Banks Still Lending?

Banks are still lending, especially with recent help and push from the government. However their application process has changed and it's now more important than ever to show strong financials which describe how you plan to steady your cash flow and pay back your loan. Banks are now also looking for match funding from yourself or third parties. This varies case to case.

What's The Benefit Of A Bank Loan?

Getting a bank loan means that you can keep hold of your company and not have to give away equity in return for the money.