Management and Organization Details : This is where you will list who the management is for your business. If you are at this point the only person involved in the company then this will simply be you. If you have others working in the company detail the organization structure of your enterprise. Below this list the ownership structure of the business. This is whether your are running a sole proprietorship, partnership or a limited liability company.
Business Overview- This section will cover the objectives, mission and vision of the business. The goals of the business should be properly outlined in this section.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
To stay clear of any legal involvement, both parties concerned must comply and honor all agreements made. Since the loan agreement serves as a contract and legal documentation, a violation of the terms and agreements can lead to a legal case and the written agreement can function as proof in court.
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