Application Checklist

Business plan

RBAC requires a business plan for all start-up ventures. You need a roadmap as much as we need to see how you plan to operate the business and earn a profit to repay the RBAC loan. RBAC is not looking for a lengthy or scholarly document, but we are looking for the basic operating assumptions of your business and how those assumptions are translated into projections of sales, expenses and profits.

Note: Businesses that have been operating at least 12 months need to provide two years of sales projections and expenses.

Write your business plan

Suggested outline of a business plan

  1. Name of business, names of principals, address, phone and fax number of business
  2. Table of contents

Highlights the key points of the entire plan

  • Product or service description
  • Market description and analysis
  • Competition
  • Location of business
  • Management
  • Personnel
  • Planned uses of additional funding
  • Summary
  1. Sources and applications of funding
  2. Capital equipment list
  3. Balance sheet
  4. Breakeven analysis
  5. Income projections (Profit & Loss statements): Three years of projections of sales, expenses and profits/losses
  • Cash flow projections: helpful, but optional
  • Historical financial reports for current business:
    • Balance Sheet for past three years
    • Income Statement for past three years
    • Tax returns

Tips

What are some things a business loan client should have prepared ahead of looking for a loan, so that they are quickly able to get through the process?
  • If the business is a startup company (less than two years) a business plan and projections for the following 2-3 years. The projections should have detailed assumptions as to how the projections were derived.
  • Two to three years of personal income tax returns.
  • Two to three years of business income tax returns.
  • Interim financial statements no more than 60 days (for a non-startup company).
  • Provide detail as to the use of proceeds.
  • Willingness to provide cash injection into project, of at least 10%

Financial documents

Select your loan type below to see a list of relevant documents.
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