Cover Letter Business Plan Example
A business plan is an important document for your business. The business plan should be created before you launch your new business venture, and you should review every few months to make sure you're implementing all your plans and don't need to make alterations. When you send your business plan to banks or other financial institutions in an attempt to receive a loan for your business, include a professional cover letter with the business plan.
1. Type your name, the name of your business and your contact information at the top of the cover letter so the bank can get back in touch with you easily. Include your business address, office number, cell number and the email address you check most frequently.
2. Type the recipient's name, title, bank name, location and address after your information. It's important to include the recipient's name. If you're not sure who will receive the cover letter and business plan, call the bank and ask.
3. Type the date you plan to send the business plan cover letter under the recipient's information.
4. Include a professional greeting addressed to the recipient, such as "Dear Ms. Smith."
5. Explain in the first paragraph that you're sending the banker your business plan and that you hope the bank will consider providing you with a loan. Tell her that the business plan is attached and that you'd appreciate her consideration.
6. In the next paragraph or two, describe reasons for opening your business. You should include details about your financial plan, such as how much money you already have to invest in your business and how much you plan to profit in the first year or two. Talking about your profits and careful financial planning shows the bank that your business is a worthwhile investment.
7. Thank the recipient for her time and consideration in the final paragraph. Let her know that you would appreciate it if she would review your business plan. Tell her you are available to come in and discuss your business plan further.
8. End the letter with a professional closing, such as "Sincerely," and type your name three or four lines after the closing. Sign your name in the space between the closing and your typed name after you print out the cover letter.
About the Author
J. Johnson has been completing freelance writing work since September 2009. Her work includes writing website content and small client projects. Johnson holds a degree in English from North Carolina State University.
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The business plan cover letter is different from any other types of letters because it is addressed to a lender or an investor who will review the proposed business plan.
This is the applicant’s chance to have a personal word with the lender and prepare him or her for reading the business plan. The feasibility of the business will be judged by the business plan. You need to think in advance if you want to create an absolutely powerful document.
People who are new in business often think that a business proposal cover letter is not important and gives more priority to working on their business plan. This is a wrong notion, so take the time to review some free online templates. They will help you to understand the structure and all features of such kind of document, you should be absolutely good prepared if you want to succeed.
Your letter is a key to achieving an important milestone in the job search process: landing an interview. Essential to every job search, it is a marketing tool for your skills and employment value.
Business Plan Cover Letter Tips
Follow these helpful tips:
- If you do not know the name of the individual going to read the business proposal call the lending institution or bank to be able to get the name and the title of the addressee.
- Make your business document professional in tone.
- Business cover letters must not belong they should be short and concise. Get directions to the point that a business plan is attached and that you would like to apply for a business loan.
- Outline the details of your business plan.
Keep in mind that you should always spell check your writing. It’s even better to get someone else to read it and point out any mistakes or confusing things. Furthermore, you need to double-check everything in your text. If you mention a company’s name, make sure you get it right. If you mention places you’ve worked before, make sure you get their names right too. Mistakes are worse than typos. And remember to keep things short. It will help you to underline really essential things that should be read first.
You should also follow these rules and be sure that you are ready to have a good start.
According to Confucius quote taken from Business.com:
You can’t build a reputation on what you’re going to do.
Business Proposal Cover Letter Sample
Name of Applicant
Address of Applicant
City, State, Zip code
Name of Investor/Lender/Bank/Lending Institution
Address of Bank
City, State, Zip Code
Dear Mr. /Ms. Name of Lender/Investor,
I have read about your offers to finance small and medium starting businesses that cater to the use of biodegradable products and my business uses biodegradable raw products that conform to the safety of the environment. I am hereby submitting my business plan to you with the hope of being given the chance to apply for a $30,000 business loan.
I have a savings of $15,000 that I plan to invest in the business and we aim to make a $7,500 profit for the first year after payment of premiums and taxes, which we will reinvest back to the business for expansion.
Any consideration you can extend regarding this matter is very much appreciated. Thank you.
Name and Signature of Applicant
Make use of our cover letters sample to help you in writing. Our expert writers know all features of such kind of documents. Furthermore, they know how to create an absolutely effective document for you. You know that our aim your full satisfaction, that’s why we will do everything until you will get what you really want and expect. Check out more of our cover letter writing tips today! Don’t miss your opportunity to receive the best chance of improving the quality of your life!