Tioga County Economic Development & Planning

Suggested Outline of Business Plan

COVER SHEET:
Name of business, names of principals, address and phone number of business

TABLE OF CONTENTS

I. The Business

A. Statement of Loan Purpose
B. Description of Business
C. Location of Business
D. Market
E. Product
F. Competition
G. Management Personnel
H. Employment

II. Financial Data

A. Sources and Applications of Funding
B. Capital Equipment List
C. Balance Sheet
D. Breakeven Analysis
E. Income Projections (Profit and Loss Statements)

1. Three year summary
2. Detail by month for first year
3. Detail by quarter for second and third years
4. Notes of explanation

F. Pro Forma Cash Flow

1. Detail by month for first year
2. Detail by quarter for second and third years
3. Notes of explanation

G. Historical Financial Reports for Existing Business

1. Balance sheets for past three years
2. Income tax statements for past three years
3. Tax returns

III. Supporting Documents

Personal resumes, personal financial requirements and statements, collateral, cost of living budget, credit reports, letters of reference, job descriptions, letters of intent, copies of leases, contracts, legal documents and anything else of relevance to the plan.

TO ESTABLISH A NEW BUSINESS

1. State type of business to be established in sufficient detail to describe the nature of the proposed operation. Also include resumes of owner's and/or manager's backgrounds.

2. Give the total amount of the loan that you estimate will be necessary and break it down to show amounts estimated for land, buildings, machinery, equipment, inventory, operating expenses, etc.

3. State how much of the total amount needed you have to invest in the business and how much you will need to borrow. You must have a reasonable investment in the business.

4. Prepare a detailed projection for the first three years of operations. Show an estimate of these earnings showing anticipated sales, cost of product and administrative costs.

5. Prepare a list of collateral to be offered as security.

6. Prepare a current personal financial statement for the owner or each partner or stockholder owning 20 percent or more of the corporate stock in the business.

7. If the loan is to purchase an existing business:

a. obtain two prior years' tax returns or two years' prior balance sheets and profit and loss statements from seller; and
b. b. submit a copy of the purchase ? sales agreement.

FOR AN ESTABLISHED BUSINESS

1. State type of business that you operate. Also include resumes of owner's and/or manager's backgrounds.

2. Prepare a current financial statement (balance sheet) listing all the assets and all the liabilities of the business? do not include personal items.

3. Prepare an earnings statement (profit and loss) for the current period to the date of the balance sheet referred to above. Also furnish copies of past two fiscal year profit and loss statements.

4. Prepare a list of the collateral to be offered as security.

5. Give the total amount of the loan that you estimate will be necessary and break it down to show amounts estimated for land, buildings, machinery, equipment, inventory, operating expenses, etc.

6. You must have a reasonable investment in the business.

7. Prepare a current personal financial statement for the owner or each partner or stockholder owning 20% or more of the corporate stock in the business.

Tioga County Local Development Corporation

Pre-Application Word PDF

RBEG Small Business Loan Application Word PDF

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