In addition to filling out the 7a SBA loan application, you will also be required to present your lender with a business plan that explains what you intend to do with the loan funds, the anticipated financial results of your business, and what service/product your company offers. According to SBA lending professionals and experts, your business plan is about 33% of the ultimate decision of whether or not to lend to a small business. As we have discussed in other articles, if you have having trouble developing your business plan then you may need to hire a business plan consultant that can assist you with this process. This is especially important if your small business operations on a more local basis as local demographic research, local competitive analyses, and local economic analyses will need to be completed. Banks and finance companies, given the current economic climate, now always verify the information in full on any given loan submission document including the business plan and formal loan application. There is no wrong or right way to write a business plan. However, any business plan that you create should have the following components according to the SBA: A detailed executive summary An overview of the Owner(s) of the business. The anticipated financial results for the business over a three year period. Usage of 7a SBA loan funds. Personnel overview and an overview of the corporate organization