The only requirement for you to secure the loan from these organization and NGOs are:-
A very good business plan
A very good loan proposal
I am going to do what others think is crazy for you by not hiding any details you required to secure this loan, you be glad I did. Just follow me.
THE FORMAT FOR A BUSINESS PLAN
Title page which will also include the principal owner
statement of propose- your mission is very important your mission should be short, not more than two lines and you must take time to explain your mission
Business Description: It includes your mission, the beginning of your business, the progress your present position and potential for future growth and success.
Market analysis: your major clients, how you intend to beat others and how you intend to reach the market.
Business Location:
Management: the list of people managing the business. State their designation, duties, etc.
Competitor: Identify your competitors, their strength and weakness. State how you will stand the strength and even better it and take advantage of their weakness.
Current financial record: Give the financial record of your business for at least for three years. They are interested in knowing how well your business is generating income. Give your profit after expenditure.
Explanation of your plans for growth: state the project and the moves you hope to embark on so as to ensure profitability. State the new market you have discovered.
Forecast for the future: Describe the important of your product or service is to your market and the demand for it in the future as well as the growth of the business.
Listing of business and personal reference. You are to write on how you source for the information.
I will help you break them down into chapters.
HOW TO WRITE A LOAN PROPOSAL
Note that this loan proposal is also needed to obtains loan from the banks and not only NGOs. A loan proposal should contain the following
GENEREAL INFORMATION
It contains the following (i) the business name
(ii) Address
(iii) The principals and their stators
(iii) State the use of the loan
(iv) State the exact amount
BUSINESS DESCRIPTION – Guide to describe your business
Enumerate the nature of your business
State your number of staff if not sole entrepreneur
State your current assets
MANAGEMENT PROFILES
It contains – Profile of each of you staff
- Their educational background, work experience, skills and achievement
MARKET INFORMATION
It contains the (i) description of your product or service. The uniqueness and effectiveness in helping others.
Identify your clients
Identify your competition and how you can beat them
FINANCIAL INFORMATION
*This require preparing a balance sheet and income statement for the past three years.
*If you are just going into the business provide a projected balance sheet and income statements
*Prepare your own personal financial statement as well as that of your principal staff.
