MANAGEMENT

Detailed explanation-1: -Yes, lenders will look at the standard factors required of all loan applicants, such as your credit history, credit score, and assets-But business loan lenders will also require a business plan.

Detailed explanation-2: -Five key factors guide the location selection process: customer accessibility, business environment conditions, the availability of resources, the entrepreneur’s personal preference, and site availability and costs.

Detailed explanation-3: -A business plan is a communication tool that you can use to secure investment capital from financial institutions or lenders. You can also use it to convince people to work for your enterprise, secure credit from suppliers, and to attract potential customers.