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Old 03-11-2006, 10:33 AM
JLL25 JLL25 is offline
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Join Date: Dec 2005
Location: Illinois
Posts: 199
Business Proposal?

Hey guys, if you read my thread about spending 15K then you know I want to start my own lawncare company. Yesterday I talked to my bank and the loan officer told me I need to write a business proposal for him to present to the bank committee in order to approve me for the loan. I need some help here because I never have written anything like this, I know it needs to be professional and I know I need to show how I will make my payments during the winter months. I know its possible, I would just have to save up during the busy season or make advance payments. It works in all my scribbles just fine, but its all hypothetical, I can't show a DEFINITE stream of income until I know I will get the loan and can buy the equipment. It will work but how do I get the bank to understand that, in a professional manner. Please any help you can give would be helpful, I've never even had to provide someone with a resume, he needs it by Monday!!
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Old 03-11-2006, 11:04 AM
Az Gardener Az Gardener is offline
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Join Date: Sep 2005
Location: Phoenix, Az
Posts: 3,893
Business plans for dummies, check out the book. The bank wants to know you have thought this through you will need a budget, a resume for yourself, any employees who are starting with you if you have someone in mind, who is doing payroll, billing, tax professional etc. Your target market, what your expected profit etc.,etc. The competition, Marketing plans you name it they want it, the more you have the better. The weight of the business plan has a direct correlation to the likeliness you get the loan. Bury them in paper. Thats how you do it for big money, maybe easier for 15-K.

I would seriously discourage you from borrowing if possible. If you must borrow, most manufacturers offer financing on larger equipment and the rates are better too. For the smaller equipment look to pawn shops, used, what ever. You get a month under your belt and you should be able to spend 3-500 per month and upgrade equipment.
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