In your proposal include the section of business proposal in which you will discuss about the type of business, its location, product or service, brief history (it should encompass the starting date of your business and the progress made so far) and annual sales. Other information that can be accustomed in this section includes number of employees, proposed future operations, competition, customers and suppliers.
This section should deal with the curriculum vitae of each owner that is associated to the business.
You need to explain the purpose of acquiring the loan and where will it be used. What will be the benefits, the business gain from the increase in finance through loan and what outcomes are expected?
You should also incorporate a repayment procedure. The sources of the finance that will help you pay back the loan should also be discussed. Everything should be realistic because a slightest of unrealistic scenario can always dampen the chances of impressing the financial institution representatives.
All the properties, their addresses and preferably the pictures that will cater as the collateral for the loan should be a part of proposal as well.
Other Items (can be part of the proposal but not mandatory)
- Letters of Reference
- Purchase agreement
- Copies of license
- Partnership agreement