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As for what
your
business plan should include, our business banker Mr. Steve Morse of
City Bank, Honolulu, Hawaii, offers these important business plan
considerations:
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Your
business plan should include an extensive background section which
should tell the lender what you're about, key personnel, stockholders,
etc.;
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A listing of experience and
educational background information;
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Nature of your business, i.e.,
what markets you service, product and services you sell, geographic
territory, what your business does;
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How you deliver your
product/service to your customers;
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Detailed financial analysis.
This should include a 3‑5 year‑end financial statement, and audit or tax
returns. Also, information should be supplied year to date. Make all
projections realistic and make the banker understand you understand your
business;
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If you are applying for a
loan, present a
professionally prepared package. Make the package correspond to
the nature of your business and loan requirements.
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