This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
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.
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
- Competition
- Location of business
- Management
- Personnel
- Planned uses of additional funding
- Summary
- 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
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.