Business loan

One-Page Business Plan Template

Business Name: [Your Business Name] Date:[Today's Date] Contact Information:[Your Name, Email, Phone]

1. Business Concept:

· What do you do? "[Your Business Name] is an [e-commerce store/retail boutique] that provides [high-quality, sustainable pet products] to [modern pet owners in the United States]."

2. The Project & Loan Request:

· What do you need the money for? "We are seeking a $30,000 term loan to finance our initial inventory purchase. This stock will consist of [e.g., 500 units of our top-rated organic dog beds, 1,000 units of non-toxic grooming supplies, and 500 units of durable toys]. This inventory is required to fulfill our pre-launch marketing campaign and generate our first revenue."

3. Target Market:

· Who is your customer? "Our primary customers are millennial and Gen Z pet owners, aged 25-45, who prioritize their pets' health and wellness and shop primarily online. This is a growing demographic with significant disposable income for pet care."

4. Revenue Model:

· How will you make money? "We will sell directly to consumers via our Shopify website. Our average order value is projected to be $65. Our key differentiator is our rigorous product vetting for sustainability and safety, and our subscription model for recurring consumables."

5. Financial Projections (Critical Section):

Metric Month 1 Month 3 Month 6 Notes

Revenue $3,500 $9,000 $15,000 Based on conservative conversion rates from our marketing plan.

Cost of Goods Sold (COGS) $1,750 $4,500 $7,500 50% margin. Includes inventory and shipping.

Gross Profit $1,750 $4,500 $7,500 This is the capital available for all other expenses.

Operating Expenses $1,200 $1,500 $1,800 Marketing, software, loan repayment.

Net Profit $550 $3,000 $5,700

6. Use of Funds & Repayment:

· How will the loan be used and paid back? "The entire $30,000 loan will be used for the purchase of initial inventory. Based on our projections, we will begin generating positive net profit by Month 2, which will comfortably cover the estimated monthly loan payment of approximately [$600 - $900] on a 3-4 year term."

Online Term Loan Options: A Comparison

Since your business is new, lenders will heavily weigh your personal credit score and personal income. Here’s what to look for:

Lender Type Best For Key Requirement Considerations

Marketplace Lenders (e.g., Funding Circle, LendingClub) Businesses with 6+ months of operation and good credit. Personal FICO score of 660+. Some bank revenue history. Rates are higher than banks but reasonable. Terms are typically 1-5 years.

Short-Term Lenders (e.g., OnDeck) Businesses that need cash extremely fast and have strong daily bank balances. Personal FICO score of 625+. High bank account balance. Higher APR. Shorter terms (3-18 months) with daily or weekly payments. Only consider if you have very high confidence in immediate sales.

Peer-to-Peer (P2P) Lending (e.g., Prosper) Individuals with good personal credit using a personal loan for business. Personal FICO score of 640+. Good personal income. You are personally liable. Simplest application process.

Your Action Plan:

1. Complete the one-page business plan template above.

2. Check your personal credit score (free on Credit Karma or your bank's service).

3. If your score is 680+: Apply to 2-3 marketplace lenders to compare rates and terms.

4. If your score is below 640: Focus your efforts almost exclusively on the SBA Microloan and CDFI path, as they are more focused on your business plan and character than a perfect credit score.