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November 2008
Business Plan Supplement
by Cherie Sohnen-Moe If your business plan is to be used in securing a loan, it’s recommended that you incorporate the following additional information: - State the type of business loan(s) you’re seeking (e.g., term loan, line of credit or mortgage).
- Summarize the proposed use of the funds.
- Calculate the projected return on investment.
- Write a persuasive statement of why the venture is a good risk.
- Describe the loan requirements: the amount needed, the terms and the date by which it’s required.
- State the purpose of the loan, detailing the facets of the business to be financed.
- Provide a statement of the owner’s equity.
- List any outstanding debts. Include the balance due, repayment terms, purpose of the loan and status.
- Document your current operating line of credit—the amount and security held.
- List all pertinent information regarding your current lending institution: branch, address, types of accounts and contact person(s).
- List the names, addresses and phone numbers of your attorney, accountant and business consultant.
Cherie Sohnen-Moe is an author, business coach and international workshop leader. She has been in business since 1978. She was in private practice for many years as a massage and holistic health practitioner before shifting her focus to education and coaching. In her coaching/consulting practice, she has worked with individual 'therapists to small wellness centers to day spas that have multiple locations. She has served as a faculty member at the Desert Institute of Healing Arts and the Arizona School of Acupuncture and Oriental Medicine, and is an adjunct professor at Clayton College of Natural Health. She has written more than 100 articles that have been published in more than 15 national and international magazines. She is the author of the book, Business Mastery, which is in its fourth edition, has sold more than 325,000 copies to date with 650-plus schools requiring it as a text. She is also the author of Present Yourself Powerfully and The Art of Teaching. She is co-author of The Ethics of Touch, with more than 300 schools requiring it as a text. She is also a contributing author of Teaching Massage: Fundamental Principles in Adult Education for Massage Program Instructors, and was interviewed for a chapter of SAND TO SKY: Conversations with Teachers of Asian Medicine. Sohnen-Moe is a firm believer in education and as such serves on the exam committee of the Federation of State Massage Therapy Boards (FSMTB) and is a founding member of the Alliance for Massage Therapy Education (AFMTE). She can be contacted through her website, www.sohnen-moe.com.
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