Applying for a Start-Up Loan

Applying for a Start-Up Loan

Applying for a Start-Up Loan

A new start-up will need as much funding as it can get to launch itself successfully. However, when applying for a loan, the information that needs to be submitted must include certain elements. You should include these elements with specific details for each of them to increase your success in securing a loan for your start-up.

Write a Solid Business Plan

All loan applications will need a business plan submitted and this will be discussed with a representative/advisor of the bank.

Writing a solid business plan begins with research. In-depth research about market demand, market growth, competitors and any other current market specific analysis needs to be conducted. This information which relates specifically to your niche market should be used to plan and write your business plan. Specific statistics that you have come across in your research should be included as they will form the basis of your forecasts

It is important to highlight the power and profitability of your business idea and how it can be implemented to create a successful and growing business.


The statistics that you have researched and any specific figures that you already have from running your start-up should be used to create forecasts. The most important forecasts are sales and profit forecasts.

A sales forecast should include any sales figures that you already have and any future contracts that you may have. From these figures a realistic profit forecast can be established.

Realistic forecasts will strengthen your position and demonstrate that you have good business sense.

Business Plan Figures

By matching up your forecast figures with your business plan figures you can realistically show that they can be achieved. A cash flow forecast should also be included. This should prove that your proposed business plan can work with you cash flow forecast with proposed sales and profit levels.

Include Costs and Expenses

A solid business plan should contain all the costs and expenses that will be encountered. A clear list of all the expenses that will need to be paid per month must also be included. All the cost involved in creating or purchasing your product or service from creation to delivery must be stated.

The Interview

Your solid business plan is now prepared and will have to be presented to the bank advisor/representative. Preparation for this interview is key and practicing often is advised.  All the key facts and figures included in your business plan must be learnt. A professional presentation will help you win half the battle so that you can persuade the bank to give you a loan for your start-up by highlighting the fact that your business idea is viable and will be profitable.

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