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Old 9th February 2005, 03:41 PM   #11
akurmang
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Default Business plan for commercial loan

Hello,
I prepare business plans for commercial loan packages. First of all, not every loan needs a comprehensive business plan. Usually a small write-up is enough, unless it is a construction, start up or acquisition loan. On average business plans are no longer than 20-30 pagers (underwriters do not want to read the book), although business plan for venture capitalist should be really detailed and is few hundred pages long.
Main purpose of the business plan is to justify the numbers in credit memorandum.
Hope that helps.

Asya

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Old 9th February 2005, 03:44 PM   #12
Robert
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Originally Posted by bluebreak
ps what newsletter are you working on?
The Small Business Brief Newsletter

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Old 12th February 2005, 12:30 PM   #13
Search4news
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Absolutely, a business plan is the basic roadmap to obtain a loan and establish a successful business. Though, enthusiasm, passion, energy are all necessary to pursue our goals, a busines plan is a must to pursue a profitable business. As Akurmang said, "a comprehensive business plan" is ideal. However, in setting a business plan, one must be realistic, defining short and long term goals. Is not like expecting to succeed overnight and getting depressed for not accomplishing that financial freedom overnight. A step by step plan with targeted tasks and deadlines will be helpful.


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Old 14th February 2005, 12:22 PM   #14
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Originally Posted by Search4news
Absolutely, a business plan is the basic roadmap to obtain a loan and establish a successful business. Though, enthusiasm, passion, energy are all necessary to pursue our goals, a busines plan is a must to pursue a profitable business. As Akurmang said, "a comprehensive business plan" is ideal. However, in setting a business plan, one must be realistic, defining short and long term goals. Is not like expecting to succeed overnight and getting depressed for not accomplishing that financial freedom overnight. A step by step plan with targeted tasks and deadlines will be helpful.
I disagree. A business plan is not a must have, I know of several successful businesses that do not, and have never had a business plan.

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Old 14th February 2005, 12:32 PM   #15
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I disagree. A business plan is not a must have, I know of several successful businesses that do not, and have never had a business plan.
No one seems to be arguing that you can't have a successful business without a plan.

However, I *do* argue that that you can't get venture capital or a commercial loan without it, and that success is more likely with less effort. Why anyone would try to go into business without one is beyond my understanding, but then again, I may be an idiot.

NB: Loans from friends and relatives, or borrowing on consumer credit are not what I term venture capital or commercial loans.

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Old 15th February 2005, 12:12 PM   #16
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Yea I agree with that, you can't get VC or traditional funding with out one, but your average business doesn't have a chance in hell of getting VC in the first place.

I'm not saying a business plan is bad, and I'm not even saying you shouldn't write one, to each is his own. I just don't think your everyday average joe that's starting a business needs to spend 6 months writing a 500 page plan. That's my opinion so we'll agree to disagree.

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