One of the most important things to have in place when applying for a small business loan is a business plan. A good business plan will help you obtain financing. Equally important, it will help you thoroughly analyze your business. As a result, you will have an opportunity to fix flaws or problems before they occur.
Most business plans include an Executive Summary, company description, as well as a description of the product or services you intend to sell. In addition you will need to provide an analysis of your market and how you intend to reach that market. Of course strategy and implementation are of utmost importance. Consequently, make it a priority to list any internet or other marketing plans. In like manner, provide an organizational chart, and set out projected loss and cash flow.
Small business merchant account
As part of developing your business strategy, you need to consider how you will accept payment from your clients. It is vital in these days that a small business owner be able to accept credit cards. North American Bancard offers a small business merchant account that will fit your small business budget. As a bonus, we offer a free credit card machine to our new retail customers, which can amount to a $1,000 savings right up front. Also, we have the perfect credit card processing solution to meet the needs of your business. Some of these solutions include wireless credit card processing, mobile credit card processing, and the ability to accept credit cards online.