Business loans
A simple 7-part outline, the numbers lenders care about most, and the mistakes to skip.
Business loans
A simple 7-part outline, the numbers lenders care about most, and the mistakes to skip.
The short answer
Not always. For a small loan to a steady business, a few clear sentences about the purpose may be enough.
You will likely need a plan if:
| What | Why it matters |
|---|---|
| Financial statements (1 to 2 years) | Shows how the business has done |
| Cash flow forecast (12 to 24 months) | Shows you can make the payments |
| Loan payments in the forecast | Proves you planned for them |
| Your own money in | Shows you share the risk |
Not sure what the payments will be? Use our loan calculator, then put that number in your forecast.
Want help building your plan and loan file? Tell us about your business. You can also see the full document checklist.
Short and clear is best. For many small business loans, 5 to 10 pages is plenty.
Your numbers, especially the cash flow forecast. It shows if you can make the loan payments.
Usually, yes. Lenders often ask for a business plan, cash flow numbers and quotes for what you will buy.
Yes. A template helps you cover every part. Just fill it with your own real numbers and plain words.
Keep reading
How to get a business loan in Canada in 6 simple steps: what lenders check, the documents you need, which loan fits, and how to get a faster yes.
Read the articleHow to get a startup business loan in Canada: what lenders want from new businesses, the best options like CSBFP and Futurpreneur, and simple steps to apply.
Read the articleFree business loan calculator for Canadian owners. Enter the amount, rate and years to see your monthly payment, total interest and total cost in seconds.
Read the articleTalk to a specialist
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