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.
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.
It needs to have a list of everything you need. Note that the word everything here comprises of the equipment, technology, raw materials, financial and other resources that you may need when starting and running your business venture. Having all these listed will give you an idea on how much capital you need before you start and how much money should you make in a day to make your business survive.
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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