BP Outline

The Center for Community Development
Cottage Industry Loan Program

I. Introduction

The introduction will summarize what the business is, highlight how you are the person that can make it profitable and what you are requesting.

Describe:

Type of business: Is it retail, wholesale, manufacturing or service

Age: Is it a proposed start-up, an expansion or the purchase of an existing business? (If you are buying an existing business, state how long it has operated in that location).

Legal Structure: Is it a sole proprietorship, partnership (limited or general), or corporation (C, S, or Limited Liability-LLC)? If the business is a partnership, it is necessary to prepare and include partnership agreement in the attachments section of your plan.

Owners: List all owners, the percent of ownership of each, their investment and their current or proposed compensation plan.

Sources and proposed uses of funds: Include a list of what will be purchased with the loan, from whom you will purchase these items listed and the benefits that will result.

Proposed Collateral: This may include inventory, machinery, equipment and real estate. Don’t forget to include the appraised or market value of each item listed. List separately proposed purchases and assets you already own if they are going to be used in this business. If you have mortgages on any item submitted in this section include the balances owed on each.

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