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How a professional business plan can secure you that all important bank loan

Why do you need a business plan when applying for a business loan?

When you apply anywhere for a loan or a grant, the source of the funds (normally the NEF or a bank) will always want a business plan.

The quality of your plan is pivotal to success in raising the funds and, in fact, to the success of your business.

Our business plans give you the best chance of a successful application for a loan. Why? Because we’ve been writing professional business plans for various companies, big and small, since 1971. We do not just churn out a multipage, multicoloured load of rubbish. We write the plan very specifically for the business in question. That’s why our business plans are not cheap.

Remember – you have only one chance when applying for a company loan and messing up that chance with a poorly structured business plan that you bought from a non-reputable source will not only fail to raise that loan, but will also prejudice your chances of being successful with future applications.

How much does a professional business plan cost?

A good business plan can be quite expensive. However, because we specialise in setting up businesses for success, we offer professionally drafted business plans at a fraction of the loan amount. We also do not offer one standard business plan like most other companies. Because every loan application must be tailored to the specific business, we have a graded fee structure which depends on the size of the loan for which you are applying.

We offer the following business plans and services:

  1. Application for funding. NEF or similar. Not including the business plan
    This is an application for funding document only and needs the business plan for completion.
    Click here to read more or to purchase this service from our online store.
  2. Business plan R10m loan
    Complete business plan for inclusion in applications for funding up to R10m and to plan your business venture.
    * Estimated professional time spent 12 hours.
    Click here to read more or purchase this business plan from our online store.
  3. Business plan R20m loan
    Complete business plan for inclusion in applications for funding between R10m and R20m and to plan your business venture.
    * Estimated professional time spent 15 hours.
    Click here to read more or to purchase this business plan from our online store.
  4. Business plan R30m loan
    Complete business plan for inclusion in applications for funding between R20m and R30m and to plan your business venture.
    * Estimated professional time spent 20 hours.
    Click here to read more or to purchase this business plan from our online store.
  5. Business plan R50m loan
    Complete business plan for inclusion in applications for funding between R30m and R50m and to plan your business venture.
    * Estimated professional time spent 30 hours.
    Click here to read more or to purchase this business plan from our online store.
  6. Business plan R50m plus loan
    Complete business plan for inclusion in applications for funding above R50m and to plan your business venture.
    * Estimated professional time spent 40 hours.
    Click here to read more or to purchase this business plan from our online store.

Why a professional business plan can help you secure a loan application for your business.

So what is a business plan and how is it put together?

It starts with a financial forecast of what you expect to happen over the coming five years. This means that you have to predict the capital expenses (buying things like motor vehicles, computers, office furniture etc.), turnover and operating expenses over the next five years. This information is then used to create a financial model of your company. At first shot, this model usually turns out unrealistic results, either excessive profits or losses or possibly the company is forecast to be flooded with cash or hopelessly short of cash.

The next step is to eliminate incorrect assumptions. This will help to bring the model into line with business norms and will normally deal with the excessive (unrealistic) profits or cash.

Once that is done, we then need to discuss what changes you can make to your plans in order to improve the projected performance of your company. Here you will probably need our expert guidance. Matters such as staffing, marketing, outsourcing and the like will typically be addressed. Gradually, the model will become more realistic and achievable and you will feel more comfortable that it is, indeed, your way forward.

Having settled on the financial model, the written part of the business plan is addressed. This describes the business in words and covers such areas as the company’s range of products or services, the competition, the target market, the major suppliers and identifies risks and how they will be mitigated.

There are many companies that offer to prepare your business plan for you, but their quality depends on the qualifications and experience of the employee who is assigned to you.

Despite these generic business plans often being very thick (many of them actually boast about how many pages you get!) and very pretty, they are of little true relevance to your actual business.

In our case, you get the best, because your consultant at Harbour & Associates will always be our CEO, Derek Springett.

Derek’s qualifications include:

  • Professional Engineer – Pr(Eng)
  • Chartered Accountant – CA(SA)
  • Registered Auditor – RA
  • Internationally accredited financial mediator -CEDR
  • member of Mensa and
  • registered Tax Practitioner

He has been in business all of his working life either as an engineer or as a Chartered Accountant and now spends most of his time mentoring and advising business people at all levels.

The business plan that we prepare with you will not merely be a document to help you raise funding, but will be a valuable tool to assist you in running your company over the formative years. And once you are up and running, we will always be there for you to advise and guide you at no charge for meetings or phone calls. In fact, if you would like the first of those free meetings now, why not book one right away. It’s as simple as that and always will be.

You can browse around our online shop and find our pricing for business plans and loan applications along with all of our other services.

* please note that the NEF only provides loans which are repayable, and these are restricted to BEE empowered companies. They do not provide non-repayable grants.