Business plans are VERY important. You definitely have to put a lot of thought and time in constructing one. Put yourself in the lender’s situation – if some random guy came up to you with no clear plan, why on earth would you give him $20k?
If you are sure that you’ll make a or are already making a profit, spell it out for them. Show them how you’ve flourished and how you expect to grow in the future with this money. Obviously you don’t have to know every specific detail going into the distant future, since no one can predict what will happen with your business, but at least develop likely scenarios so you’ll be prepared for anything.
Good luck!
if you only need $20,000 and you don’t want to write business plan- try to obtain business credit card and take cash advance from, many credit cards offer better rates for cash advance, than business loans- do research .
if you had 20,000 would you lend it to someone with an idea? Not if you are smart. You’d just steal the idea or tell him to go away. You won’t even get $1000 without some sort of business plan. Do reasearch. You can find templates online.
You have to show them that you know what you are doing and earn their trust and confidence. if you can’t explain things well then you should get a partner who can.
Business plans are VERY important. You definitely have to put a lot of thought and time in constructing one. Put yourself in the lender’s situation – if some random guy came up to you with no clear plan, why on earth would you give him $20k?
If you are sure that you’ll make a or are already making a profit, spell it out for them. Show them how you’ve flourished and how you expect to grow in the future with this money. Obviously you don’t have to know every specific detail going into the distant future, since no one can predict what will happen with your business, but at least develop likely scenarios so you’ll be prepared for anything.
Good luck!
if you only need $20,000 and you don’t want to write business plan- try to obtain business credit card and take cash advance from, many credit cards offer better rates for cash advance, than business loans- do research .
if you had 20,000 would you lend it to someone with an idea? Not if you are smart. You’d just steal the idea or tell him to go away. You won’t even get $1000 without some sort of business plan. Do reasearch. You can find templates online.
You have to show them that you know what you are doing and earn their trust and confidence. if you can’t explain things well then you should get a partner who can.