Entrepreneurs who apply for loans without having prepared business plans are less likely to get the money they need.

Question

Quizplus · Accepted Answer

A business plan is an essential document that lenders want to see to evaluate the potential of the business and the borrower's ability to repay the loan. Without a business plan, it can be difficult for lenders to determine if the borrower is a good risk or not. As a result, entrepreneurs who apply for loans without a business plan are less likely to obtain the funds they need.

Entrepreneurs Who Apply for Loans Without Having Prepared Business Plans