Business Plan – Financial Situations/Needs
Business Plan– Financial Situations/Needs. This is not the time to be shy. Start right out by stating how much money you need. And be sure to include plenty for a cushion in case you have underestimated expenses or overestimated sales.The costs of starting a business especially, tend to run a lot higher than expected because it is impossible to foresee every cost that you will have to incur. In addition to be being specific about the amount of money you are seeking, be as specific as possible about any other details of the financing you are seeking. If you are seeking bank financing for example state whether you are seeking a line of credit (for an on-going financing need) or a term loan that you will pay back at a specific point in time. If you are seeking investors for a new business, you will want to emphasize how heavily the founders have personally invested in the business.
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