Loan Processing
Elements of your loan proposal
Generally, the loan proposal is comprised of the following elements:
1. Summary: Comes first; written last.
This should be clear, concise, accurate and inviting. You want to summarize how the proposed loan will be used, how it will be repaid and how it will benefit your business. Remember, that you are competing with many others, so youll also want to point out some of the distinguishing features of your business.
2. Top management profiles:
The key issue here is who are you Be prepared to come under close scrutiny. You will need resumes as well as a summary of experience, qualifications and credentials for all owners and key members of your management team.
3. Business description:
You dont need to repeat all of the information contained in your business plan, but you do need to present a solid description of your business. Include a brief overview of the history of your business, plus a summary of current activities. Make sure you clearly demonstrate that you understand your markets and industry (current trends and risks). Include literature showing your products or services. It is also helpful to include letters from suppliers, customers and other business references.
4. Projections:
Include projected income
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