The Importance of a Business Plan in the Lending Process

Most lenders don't look at a business plan if you're in business already. Once you start to get the bigger dollar sizes with bigger lenders that are going to have better rates and costs of capital, they're more going to want to really look at projections. You need to put a projection statement together for like those larger transactions. It's easy to say, hey, hey, attention to your cash flow and manage it, manage your expenses. But sometimes you don't have that luxury,. Like something happens and you have to like move and you don't Have time to prepare.

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