Best Answer

The first step in getting commercial loans is creating a solid business plan. Your company's business plan will spell out the mission of your business, a forecast of the business' profits and an analysis of market trends. Having a solid business plan will assure the lender that your business will be able to repay the loan. Add in a profit and loss statement, a marketing plan, sales forecasts and a market analysis when applying for your commercial loan. When you present the best financial picture possible, you will be more likely to receive the commercial loan that your business needs.

User Avatar

Wiki User

โˆ™ 2011-08-08 13:41:55
This answer is:
User Avatar
Study guides
See all Study Guides
Create a Study Guide

Add your answer:

Earn +20 pts
Q: Creating a Business Plan for a Commercial Loan?
Write your answer...
Related questions

Where can one obtain a commercial business loan?

The only place to obtain a commercial business loan is at a bank. In order to obtain one, it is obligatory to have a company as well as a solid business plan.

Creating a Business Plan for Your Small Business?

Before your start a small business, there are important steps that must be taken to ensure your business' profitability. The first step in starting a small business is to create a business plan. This plan will outline the goals of the business, the start up capital and profit margins. The business plan will also discuss the day to day operations of your business and how it will be run in your absence. This plan is imperative if you will be seeking a commercial small business loan from a bank or if you will be leasing commercial space. Your business plan is not etched in stone and can be altered as the business' needs changed. The business plan is the first and most important step in starting a small business.

Can You Claim A Business Loan?

No, a business loan is not a prize, it has to be negotiated on the basis of a business plan.

Do you agree that a business plan is a waste of time and money?

A business plan is an important part of starting a business. Without a business plan, you will be unprepared when things don't work out, causing you to lose money or even your business. Most loan companies require a business plan before they wil approve you for a loan.

How difficult is it to get a loan as a sole proprietor?

It may be challenging to get a loan but a loan will be dependent on having a good business plan. If you have a well thought out business plan and proposal, you will have a better chance of getting a loan. The amount will also have a lot to do with whether you can get your loan or not.

Where can someone find business plan samples?

If someone were looking to start their own business, one must get funding or a loan. Anyone who will loan a business money wants to see a detailed business plan to see if this is a venture worth investing in. If one wanted to create a business plan, one can get business plan samples at the site, Bplans.

How can I set up a business plan?

Investing time and focus in creating a business plan is one of the most valuable activities you can undertake. Creating a well-structured business plan will give you direction and help your business become a success. A business plan provides a roadmap for your businesss future and is essential to attracting funding.

How do you get a business loan?

Develop a good business plan, then take it to your bank.

What is the first step in creating a business development plan?

The first step in creating a business development plan would be knowing your business. In order to create your business plan, you must know what business you are entering inside and out. You must do a lot of research which comes in two different forms, reading everything that you can about the industry and talking to someone who is already in the business.

When buying a business can you use projected business revenue to help qualify for loan?

Well when applying for a business loan you will need to have a "Business Plan" this is a easy way for bankers to tell serious prepared entrepreneurs from the ones that are not and projected income is a section in this documented plan.

If I'm trying to acquire a small business loan, will I really need to show that I have a formal business plan?

A well thought out business plan can go a long way in convincing a lender to step up to the loan you are requesting. It will help you and the lender define your true business needs and set up the correct loan to fit them.

What legally constitutes a business loan?

A loan is the agreement of lending money, usually with interest, and a plan and a date to repay it. There are many subcategories of loans that do not have separate legal definitions. A business loan is a loan granted for the use of a business.

What are some common requirements for a business loan?

Generally, an individual or company who is looking for a business loan will need to present identification, evidence of a sound business plan, and collateral.

What are the components of a business plan to help in taking out a loan?

A business plans needs to cover what you plan on your business to do, how you would make it happen, and what the funding is needed. You also need to present your business and yourself personally, in the best manner as possible to increase the chances of taking out a loan for business purposes.

What is one requirement of a SBA loan requirement?

One requirement of obtaining a small business loan is that you have a prepared business plan. A plan entails detailed projections of earnings and expenses for the next five years.

Will your business fail if you fail to plan?

Not neccessarily, But your chances of success would be alot better with a business plan. A plan can help you in many different ways. It can have you prepared for the worst and it can also prepare you for the best. If you're focusing on getting a loan to start-up your business a business plan is a must, unless you're getting a loan from a family member or a friend.

How can I get a small business loan?

You'll want to put together a business plan. Check online or with your local college to see if they offer a program to help you write a really convincing business plan. Do not skip this step. Then, take it to the bank, and ask for a loan.

How an Indian will get loans against business?

where do you plan to get a loan? what country? if you are in the US, you can either have unsecured type of loan.

Why must a risk assessment or strategy plan be considered when creating a Business Continuity Process?

A a risk assessment or strategy plan be considered when creating a Business Continuity Process because you want to know what you are preparing for and why.

Where can I find a business plan outline creating program online?

Well, I would recommend looking around BPlans because they offer a variety of sample business plan outlines, but also a variety of business plan outline creating programs. They also offer their products for an incredibly reasonable price.

Does a business plan benefit the entrepreneur?

It does. It establishes the plan and overview of the business and helps the entrepreneur stay on the right track. It also serves as a tool that helps the business receive a loan.

When would you need to do a business plan?

Usually, a business plan is needed, when a company is requesting a loan, or approaching investors. However, you should write a business plan, if you are serious about your business and you want to have a tool to check your progress and evaluate the viability of your company.

What does having a food truck mean you need a business plan?

Yes, every business should have a business plan - even food trucks! If you are interested in creating a business plan for your food truck business, I would recommend visiting sites such as The Financial Report.

When do you need a business plan consultant if you're a small business man?

If you want to get a loan through a bank, then it is important to have a business plan worked up in order for the banks to have an good idea on what you are looking for in your business. Also a business plan is a good organized map of the future of your busines.

How do you get a dealership of company?

To get a dealership you will first need a business plan. You will need to obtain a business loan, and purchase a venue.