Christian Credit Union - Business Resources

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CAFT Tips & Tools

Starting your own business?

How exciting! Your vision is becoming a reality. Or perhaps you are planning to expand your existing business. We need a few things to start the loan process.

First of all, you need write it all down in a business plan. Your business plan should include the following:

The name of your company
What is your product or service?
What is your competition?
What is your market? Your market plan? Your sales objectives?
What are your business risks?
How many owners will there be? Sole Proprietor, Partnership, Corporate?
3 years of financial information on the existing business
Monthly projected income and expense statements for the upcoming year
Personal resume, personal net worth statement and last 3 years of personal income tax returns of each owner
What are your credit needs?