Business Plan Questionnaire
We’re in the business of helping you do business.
The first step towards establishing a business plan is to answer the questions below that pertain to your situation.
- Date business was established – or will be established
- Location of Business
- Is the location leased or owned?
- If leased, provide the name and location of the owner.
- Date present owners gained control – or will gain control
- Describe what services you offer, or products you sell or manufacture
- How is your product or service made?
- Describe any special materials or processes used in your business.
- How are these obtained?
- Discuss your market area and competition
- Discuss your marketing strategy
- Describe the trends affecting your industry
- Discuss your goals for the Business. Explain how this loan will help you achieve these objectives. Include why the loan is needed and how the money will be repaid
- Short term goals (1-4 years)
- Long term goals (5-10 years)
- Any other information you feel would help us better understand your business
FINANCIAL INFORMATION USUALLY REQUIRED
The financial data requested below are essential to the decision-making process.
- Year-End balance sheet and income statements for the company’s three previous fiscal years.
- Year-End income tax returns – three previous fiscal years (personal and business – include all schedules)
- Interim balance sheet and income statement dated within 60 days of this application.
- Projections for at least the next two years, including detailed assumptions (refer to Form 3)
This is a very common question. Superior National Bank has a tradition of quality service and quick responses to loan requests. Therefore, you should expect the following steps to occur:
- Submit the loan application to a loan officer
- They will contact you within two business days to schedule a follow-up meeting
- At the follow-up meeting, you will discuss the strengths and weaknesses of the loan request and either:
- Decline the request, but provide recommendations
- Discuss with you the possible loan structuring and establish a “game plan” for finalizing the process.