The Business Plan

Join www.OOIDA.com this is a business website for the owner-operator and small fleet owner.

 

Yes, she is!

 

At least it's good practice and training for the future.

 

Don't mean there would be anything wrong with it ,what are you going to right is what I was wondering. Like I said I've never been ask for one when I've bought.

 

Did you put up plenty of collateral in the event you could not cover the loan you were seeking? Lenders don't just dish out money especially in a statisticly highly risky business to someone without either plenty of assets/collateral or a solid business plan. Now once you are established, things change because you can show them you expect to make a profit with the new equipment.

 

I don't remember how much down I put on my first truck think it was 20%.collateral was the truck I personally wouldn't finance a truck or anything really if what I was financing wouldn't hold it's own value.But I'm not trying to be argumentative just thought you didn't need a written business plan for financing unless you wanted to start a stand alone business with a building,employees,products.then yes you will need to show a bank what your selling or making and a customers list,prices projected profits.etc.