So you’ve got that idea and you’re ready to launch your business. You started to prepare your business plan, but… Not every business plan will need a funding request section. If you’re looking for outside funding though, you’re going to need to ensure this section goes in. You’ll need it whether you’re going to apply for a loan for your business or approach an investor. Here’s how to write your funding request and get the cash you need.
Write an Outline of Your Business
This may sound as though it would be rather pointless, as your entire business plan will be outlining your business. However, you’ll need to outline your business as this section may be used separately from the rest of your plan.
Create an outline that focuses on giving your readers the main points of your business plan. In short, you’re going to want to summarise what your business does and how it plans to operate. This should be enough for your reader to move forward but won’t be repeating anything if they do happen to have the entire document to hand.
Spell Out What You Need in the Funding Request
When it comes to the funding section of your business plan, there’s no point beating around the bush because the reader is going to know exactly what you’re there for and may not have the time to play games trying to figure out what you’re asking for.
Nor are they going to bother to call or email you asking what you meant. Your funding request will simply be denied.
You’ll need to ask for the amount of money you need straight, but that won’t be everything you include in this funding request. Here’s a full list of what you’ll need to include:
- Amount needed: Ask for the full amount you’ll need. Will you use this cash in one lump sum, or will you need further investments over time? Consider this when thinking of how much you need to ask for.
- Loan or investment: How do you want this money? Both a loan and investment have benefits and downfalls, so make sure you’re researching each possibility to see what works best for your business.
- The terms you’re asking for: These will need to be agreed upon before you put this funding request forward and will be a defining factor in your contract, so you’ll want to make sure that you’re investing a good amount of time in ensuring these terms and conditions work well and in favour of your business.
How You Will Use the Funds
If you know how much money you need, then it’s safe to say that you’ll have an idea of what it’s going to be used for.
However, make sure that you’re only outlining what your funding is going to be used for. If you’re going to be using it for several different reasons, perhaps dividing it into several areas of your business, such as product development, marketing, and staff costs, make sure that you take the time to outline each use and explain how much will go towards it.
Always remember that the vast majority of investors and lenders would give their money to help a business grow. Rather than trying to help you scrape through on a failing business idea in which they’ll see very little, potentially no, return on investment.
That means you’ll find they’re more likely to fund staff or equipment, rather than help you pay down debt.
Use Tools to Help You Write the Request
The more professionally and comprehensively you’ve written your business funding request, the more likely it is to be fulfilled by your potential investors. This means you’ll need to check your proposal before sending it to ensure that it’s free from errors and mistakes that could seriously damage the credibility and reputation of your business.
Here are some tools that will help you get it written to the highest quality possible:
- State Of Writing and My Writing Way: These writing guides are full of good advice.
- Assignment Help: This service can edit and proofread your request.
- Via Writing and Grammar Check: Get help with your grammar here to ensure a professional standard in your funding request, and your entire business plan.
- Boom Essays & Academized: Writing agencies recommended by the Huffington Post that will help you with editing and proofreading.
- Cite It In: Cite any sources you use correctly and professionally using this free online tool.
- Essayroo and Big Assignments: These writing agencies can help you put your requests together.
- Easy Word Count: Keep your writing concise with this tool by monitoring its word count to ensure you don’t bore your reader.
Include Financial Information
If someone is to invest in your business, they’ll need to have all the information at hand before they make a decision. You need to be including your business’ financial information in this document, to show them how you handle the income you get. You’ll need to include income statements. Such as cash flow statements, balance sheets, and any other information that may be relevant.
If you’re taking a loan, you’ll need to think about how you’re going to pay the money back, and when. If it’s an investment, what can you offer the investor to show them you’re worth investing in?
Read Your Request Over Before Submitting It
“Finally, you’ll need to proofread and edit your request before you send it out. It’s an essential part of the writing process. No matter how careful you were, you can still make errors in your writing,” says Jenna Gallivan, writer at Elite Assignment Help. Give yourself enough time to sit and read your request through carefully. Give it several passes, to ensure you catch everything. The more you edit, the more professional your request will be.
Conclusion
These tips will help you write finance requests that are reasonable, thorough, and help you get the cash your business needs. Follow this advice and you’ll be able to get the help you need easily. Write it well and you’ll be on your feet in no time.
