Do I Need a Business Plan To Obtain an SBA Guaranteed Loan?

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Manage episode 237104105 series 2518941
By Ryan Smith. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
The simple answer is yes you do. The purpose of the business plan is twofold. Number one, it demonstrates to potential lenders your fitness as a business owner and entrepreneur to develop and execute a winning business strategy. Number two, it provides these same lenders the information they require to make an informed credit decision regarding the future financial success of your new venture.

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