Ivybank Finance, a small-business funding service in Quincy, Illinois, keeps guides for Adams County, IL owners: Illinois withholding tax registration for new employers, Quincy, IL zoning and building department steps, a business loan payoff calculator, and checklists for a business plan, working capital request and loan documents.
How to write a good business plan for a loan for an Adams County, IL business
A good business plan for a loan is short and built around the money. A partner wants to see what the funding pays for, how it will produce the money to pay it back, and what happens if things go slower than planned. Long market descriptions add little.
- One paragraph on the business: what it sells, to whom, and for how long.
- The purpose of the funding, with quotes or invoices.
- How the purchase produces income: added sales, lower costs or collections that arrive sooner.
- Twelve months of past deposits and the next twelve months projected, month by month.
- Existing debts and their payments.
- What you will do if sales come in lower than planned.
Working capital loan checklist for Adams County, IL businesses
- The expense and the date it falls due.
- The date and source of the money that closes the gap.
- Recent business bank statements.
- A receivables list, if customers owe you money.
- A payables list, if suppliers are waiting.
- Existing loans and advances, with payments.
The working capital page explains how to size the gap before you request.
Business loan documents checklist: what Quincy, IL owners should know
Most partners ask for some version of the same documents. Having them in one folder before you call shortens the back-and-forth:
- The business checking account's latest monthly statements.
- Tax returns for the business, plus each owner's personal returns.
- Year-to-date profit and loss, if you keep one.
- A debt schedule: lender, balance, payment, maturity.
- Entity documents: articles, assumed name filings, EIN letter.
- Quotes, invoices or purchase orders for what the money buys.
- Photo identification for each owner.
Business plan for loan application around Quincy, IL
For a request through Ivybank Finance, the plan does not have to be formal. Bring the numbers above to the first call; the conversation turns them into a request a partner can read. For a bank loan or a larger request, a written plan of a few pages helps.
Questions about the process are answered on the how it works page.
By Ivybank Finance ยท Updated