Show Me the Money

 Your Loan Application Letter has no face  You will be judged by the quality of your writing (sound familiar ELA students?)  Carefully craft your letter. Which means MISTAKES are NOT an OPTION

Do’s & Don’ts:  Write more formally than you would speak  Avoid SLANG  Do not use CONTRACTIONS (can’t, won’t)  Keep It Simple and to the Point

Executive Summary Parts:  Clearly and Briefly describe who you are  Your business background  The nature of your start-up and  How the loan will be used to help the company succeed

 Describe your market, your potential customers, and your industry

 Describe your experience, qualifications, and skills  Include the same for any KEY member of your Management Team

 State the amount of money you need and how you determined this amount-- Include quotes for equipment, supplies, building costs Basically, “X” amount of money is needed to be used for these purposes: blah, blah, blah, & blah

 Describe the terms you want to receive: term, interest rate, payment  Show how you will meet the repayment schedule based on sales and cash flow

 Describe collateral you will be willing to pledge as security for the loan