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When submitting a business plan to a lender or investor, it is important to include a business plan cover letter that is addressed to the person who will review the business plan.
People starting a small business may spend hours preparing their business plan, but not give much thought to the cover letter.
This is a mistake. The cover letter is an integral part of the plan. Even if the applicant knows the lender, they should still submit a formal business plan with cover letter.
If they do not know the lender, they should remember that the lender will judge them by the content and tone of the letter. The letter should be short, not more than one or, at the most, two pages.
It should state right at the beginning that a business plan is attached, and that the applicant is applying for a business loan to start or develop a business. It is important to state clearly the benefits for the bank or investor.
They need to believe there will be a good return on their investment, or that the loan will be repaid on time. Some tips for the style of the letter are: It can relate some marketing facts, focus group responses, demographic data or other key statistics from the business plan, but it should not be overloaded with these facts.
It can have just enough to present the business as viable and show that the applicant has done his or her market research. The rest of the statistics are in the plan. There should also be a brief mention of the financial position without going into too much detail.
The letter can mention how much has already been invested in the business, and what profits are projected for the next year or two. This will show the lender or investor that the business is worthwhile. Here are examples of a business plan cover letter.
It should be personalized for each lender or investor to whom it is sent.9+ Marketing Letter Templates – Free Sample, Example, Format Marketing Thank You Letter – 8 +Free Sample, Example Format 9+ Marketing Job Application Letter Templates - Free Word, PDF.
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Letter of transmital is hugely used in report and assinment so we provide here some letter of Transmittal Example, Template, Sample, Format. The base A0 size of paper is defined as having an area of 1 m 2 and a dimension ratio of 1 to √ 2, making the A0 paper size exactly m × m.
Rounded to the nearest millimetre, that is by 1, millimetres ( in × in).