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| If you own a small and medium enterprise (SME) and require a loan from any financial institution, a business plan is usually needed by the financial institution to facilitate the loan processing procedure. |
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| Related Information |
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| What Else Can I Do? |
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| A business plan outlines your vision and objectives for your company along with key strategies that will help you achieve that vision and those objectives. The business plan should be clear, simple and concise enough for the financial institution to understand your business. |
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| Key areas of a well written and structured business plan include: |
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Business model, product/services, vision and goals |
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Current position of company, in relation to financial, market and competitor (if available) |
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Critical success factors for the business |
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Financing requirements |
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Specific purpose(s) of the loan and in what way the loan can help the business |
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| To start preparing your business plan, make sure you cover the following basic information: |
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Business model, product/services, vision and goals |
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Current position of company, in relation to financial, market and competitor (if available) |
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Critical success factors for the business |
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Financing requirements |
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Specific purpose(s) of the loan and in what way the loan can help the business |
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Business strategies |
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Operational requirements |
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Financial forecast |
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Download
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Remember, preparing a business plan is usually the first stage in applying for business financing products. If you want to learn more about the loan application process for small and medium enterprises, download our booklet on SMEs which covers areas on loan application and financing needs for your business. Our FAQ section may also be of great help should you have any queries regarding SME financing.You can also download a sample of a business plan here. |
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