In order to meet the financial needs for future business growth as well as current demands, TruWood Cabinet Makers must secure a business loan of $125,000 from a local bank. The loan committee has asked owner and general manager Jarret Jones to write a comprehensive business plan that meets all of First Security Bank’s requirements for such a large loan. After a lot of research and careful writing, the plan is constructed and ready for presentation to the loan committee.
-The dollars and cents of the business plan are especially important to loan committees.Jones is well aware that an entrepreneur must show how,when,and why the business will make a profit.He thus ensures that his _____ section details his startup costs and sources of funding,his projections of sales revenue,cost of goods sold,operating and financing expenses,profits,and his forecasts of cash flow.
A)financial plan
B)marketing
C)production and operations
D)management

Question

Quizplus · Accepted Answer

The financial plan section of a business plan is where an entrepreneur would detail startup costs, sources of funding, sales revenue projections, cost of goods sold, operating and financing expenses, profits, and cash flow forecasts, which is exactly what Jarret Jones aims to demonstrate to the loan committee.

In Order to Meet the Financial Needs for Future Business