Business plans are VERY important. You deineitfly have to put a lot of thought and time in constructing one. Put yourself in the lender’s situation if some random guy came up to you with no clear plan, why on earth would you give him $20k? If you are sure that you’ll make a or are already making a profit, spell it out for them. Show them how you’ve flourished and how you expect to grow in the future with this money. Obviously you don’t have to know every specific detail going into the distant future, since no one can predict what will happen with your business, but at least develop likely scenarios so you’ll be prepared for anything.Good luck!
Business plans are VERY important. You deineitfly have to put a lot of thought and time in constructing one. Put yourself in the lender’s situation if some random guy came up to you with no clear plan, why on earth would you give him $20k? If you are sure that you’ll make a or are already making a profit, spell it out for them. Show them how you’ve flourished and how you expect to grow in the future with this money. Obviously you don’t have to know every specific detail going into the distant future, since no one can predict what will happen with your business, but at least develop likely scenarios so you’ll be prepared for anything.Good luck!