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.
Suggested outline of a business plan
- Name of business, names of principals, address, phone and fax number of business
- Table of contents
Highlights the key points of the entire plan
- Product or service description
- Market description and analysis
- Location of business
- Planned uses of additional funding
- 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
- 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%