Not having a marketing plan will put a business at a significant disadvantage when trying to get any type of business loan.

Question

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A marketing plan outlines a business's strategy for promoting and selling its products or services to its target audience. This plan can demonstrate to lenders that the business has a clear understanding of its market and how it intends to reach its customers, which can increase the likelihood of obtaining a loan. Without a marketing plan, a business may struggle to attract customers and generate revenue, making it a riskier investment for lenders.

Not Having a Marketing Plan Will Put a Business at a Significant