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SBA Business Plan Writer

SBA Business Plan Writer – Do You Need One?

Introduction

An SBA business plan writer will orient your business to meet all the requirements for SBA loan approval. Numerous SBA plan writers help millions of small business owners create a business plan from scratch. From a business perspective, the goal is to show that your management is qualified, experienced, and has an industry background.

You will want to develop a strong plan that demonstrates your potential to make substantial money and pay off the loan. While you cannot guarantee success, including every major component in an SBA business plan increases your chances of approval. Ensure you have a well-thought-out plan with contents pages, deep company insight, a plan format, a team chart, carefully laid-out plan sections, and clear marketing strategies for your products or services. By covering all these aspects, you are unlikely to face rejection.

Do You Need an SBA Business Plan Writer?

This need becomes very important for entrepreneurs. Here are the reasons you need a professional business plan writer—five of them:

  1. Expertise: A professional writer has the experience and expertise to craft a comprehensive plan that meets the needs of lenders.
  2. Time-Saving: Writing a business plan can be a time-consuming and challenging process. You can free up your time to focus on other critical aspects of your business.
  3. Customization: A professional plan writer can create a customized plan tailored to your specific business needs, goals, and industry.
  4. Professionalism: A well-crafted business plan demonstrates your professionalism and commitment to your business. A professional plan writer can help you create a plan that reflects your vision and goals.
  5. Success: A professional business plan can increase your chances of securing funding, attracting investors, and achieving your business goals. By hiring a professional plan writer, you can give your business the best chance of success.

SBA Business Plan Writer: Don’t Make Common Mistakes

1. Insufficient or Unclear Executive Summary
The executive summary is a critical part of your business plan. It provides a snapshot of your business. It should concisely convey your business concept, company description, unique value proposition, target market, financial projections, and funding requirements.

2. Inadequate Market Analysis
Saying you’ll make too much money, not considering sufficient expenses, or leaving out important financial details can make people wary. Your financial plans should be believable, based on sound reasoning, and backed by thorough research.

3. Weak Plans to Sell and Market
Strong go-to-market proposals are essential for success. Avoid being too generic or vague about your sales and marketing strategies. Clearly mention who will buy your product, how you will inform potential customers, the pricing, strategies to attract new buyers, and your advertising methods. Show how you will effectively acquire customers.

4. Weak Marketing and Sales Strategies
Success relies on a solid marketing and sales strategy. Avoid generic or vague descriptions of how you will market your product or service. Provide concrete details about your target market, marketing channels, pricing strategy, customer acquisition tactics, and promotional activities. Detail how you will convert potential customers into buyers.

5. Lack of a Risk Management Plan
Every business faces risks, and these should be recognized and addressed. Failing to acknowledge potential risks or not having a management plan to mitigate them indicates a lack of preparedness. Identify key risks related to industry, operations, and finance, and outline your proactive management and mitigation strategies.

SBA Business Plan Writing

Like all other solid plans, an SBA business plan should cover the crucial elements. It is also vital to review your entire SBA business plan to make sure you’ve covered all the important sections of your business plan.

  • Executive Summary: This is a one-page summary of your SBA business plan. It includes details, like how much funding you need and how you plan to drive business growth in the next three fiscal years.
  • Market Analysis: This section of the SBA business plan includes an overview of the analysis of your key competitors, marketing strategies and target customers.
  • Business Opportunity: It describes your business, the industry you operate in, organizational chart, and the specific problem you address for your target customers.
  • Financial Forecast: This includes financial projections for the next 3-5 years. It includes expenses, cash flow, balance sheets, profit and loss estimates, and sales projections.
  • Sales and Marketing Plan: This is a summary of “how” you plan to sell your service or product and how you will market to your unique target customers.

Improve Your Overall Chances of Getting SBA Loan Approval

Apart from the basics, make sure your SBA business plan revolves around the loan you’re applying for and how it will impact the financial position of your business. When it comes to an SBA business loan, use the plan writer to get the necessary guidance and pay more attention to the financial part of the plan to increase the overall chances of getting the loan approved.

Here are the elements in the financial plan section you need to focus on:

Loan Amount

When it comes to your SBA business plan’s executive summary, make sure to highlight how much funding you need. Instead of adding this number right at the end of your SBA business plan, mention it from the start. And remember that the maximum loan amount for SBA loans is $5 million.

Use of Funds

On top of financial projections, make sure to add a description of how you intend to use the loan amount and how you will prioritize investments for different aspects of your company. For instance, you can highlight that you’ll use the SBA loan to expand business operations. In any case, make sure the description of how you plan to use the funds is suitable and ties in with the loan application.

Profit & Loss

Your profit and loss statement should include all the loan-centric interest expenses and showcase how they will impact your profit margins in the coming years.

Balance Sheet

Showcase the loan amount in your forecasted balance sheet. Most importantly, highlight how you will pay off the loan amount over time. The funds you owe should be in the liability section of your balance sheet, whereas cash received from the loan should show up on the asset side.

Cash flow

Highlight the cash flow projections in your SBA loan business plan. With an SBA business plan writer, you can better explain how getting and using the loan will impact your business finances over the course of 3-5 years.

Make sure your cash flow projections cover the loan payments for the entire loan lifecycle. Prepare this data upfront so that you can increase your loan approval chances. It will also make it easier for you to manage the funds after loan approval.

Final Thoughts

Your objective should be to have an SBA business plan that increases your overall chances of success in getting the loan approval. Typically, you’ll need the assets to make a personal guarantee and demonstrate that your business is in good condition.

Your SBA business plan is meant to have the bank understand and clarify your company’s financial projections, so as to determine whether you are a good fit to get the SBA loan. If you are finding it hard to come up with a viable SBA business plan, it is a good idea to try out an SBA business plan writer and be assisted at each step. This will help you develop a compact plan that is bound to get SBA loan approval.

Do you need an SBA business plan that’s professional enough to bring your business out of its IDLE mode? At Synvest Capital, we understand the critical importance a well-written business plan plays in securing the financing need to bring your business to life, attract informed investment, or execute business goals. Our team of professional SBA Business Plan Writers has written hundreds of business plans that meet each Small Business Administration of America’s fresh requirements.

Let us help you turn your vision into a reality with a customized plan that fits your needs. Contact us today to learn more about our services and take the first step towards building a successful business.