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

I. Cover Sheet

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

II. Executive Summary

Highlights the key points of the entire plan

III. The Business

IV. Business Overview

V. Financial Data

Sources and applications of funding
Capital equipment list
Balance sheet
Breakeven analysis
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

VI. Supporting Information

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%