Why do I need a Business plan?Because you can Apply for a government-Funded loan (SBA loan) instead of a conventionalloan.
Even if your credithistory is not per.
The interest rate for a conventional loan is up to 4% higher than for an SBA loan andthe length of a conventional loan is on average only up to five years.
The interest rate for a government-Funded loan is the current prime rate plus 1.75 to6.5 points depending on your credit history and the loan can be granted for up to fifteenyears.
Why do I need a Business plan?Because you can Apply for a government-Funded loan (SBA loan) instead of a conventionalloan