ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
manage your business
|
|
|
obtain a business loan
|
|
|
make sales projections
|
|
|
find a location for your business
|
Detailed explanation-1: -When reviewing your loan application, lenders read your business plan to see how much money you need to borrow and how you will repay the loan. They also look at your financial statements to see how much cash you have on hand and how much debt you are carrying.
Detailed explanation-2: -Ans. To file for a business loan without ITR, you must submit any document showing your income. You can prove your income generation capacity with documents such as your bank account statement, profit and loss statement, and account receivables.
Detailed explanation-3: -You can avail a Startup business loan from a bank or a financial body in order to raise funds to start a business of your own or expand your current business. The rate of interest charged by the bank will depend on the loan amount availed by you and the repayment tenure.