Wise Business Plans: Strong Planning Key That Opens Trillion-dollar Lending Market

Small business lending amounted to a whopping $1 trillion in 2013, said a recent report from the Small Business Administration, buoyed by a slightly more relaxed lending atmosphere at credit neons and larger banks. The number of small businesses being turned down for loans decreased, due in part, said one industry expert, to an increased emphasis on planning during the recent down economy.

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Lending is on the upswing, but planning can make all the difference.

Lending is on the upswing, but planning can make all the difference.

"While the atmosphere has lightened a bit at credit unions and banks, venture capital investments are still stagnant. Getting a slice of that pie still requires making an effort to wow potential investors."

Las Vegas, Nevada (PRWEB) March 24, 2014

"We actually saw more people looking to plan carefully before making the leap into a new venture when lending tightened," said Joseph Ferriolo, director of Wise Business Plans, which provides planning and other business-building services to companies around the globe. "The SBA not only recommends but requires a carefully crafted business plan, and describes it as a 'living roadmap to success.' This emphasis on good planning is nothing new, but in a recovery economy, it can make or break a bid for funding."

Forbes.com seems to agree, listing "You don’t need or want investors or a loan" as one of the very few reasons an entrepreneur might not create a business plan. It follows, of course, that those who are seeking a loan need to have a plan in hand, especially in a still-cautious lending market, said Ferriolo.

"While the atmosphere has lightened a bit at credit unions and banks, venture capital investments are still stagnant," he said, citing the SBA report, which describes the venture capital market as "relatively flat." "Getting a slice of that pie still requires making an effort to wow potential investors."

Ferriolo said he's evidence of that increased effort among his clients, who have encouraged the company to branch out into presentation services that complement and highlight key points in their business plans.

"They've told us they need to stand out from the crowd," he said. "We think that's smart... and we think it's working."

Wise Business Plans (http://www.wisebusinessplans.com), staffed with professional MBA writers, researchers and financial experts, is a trusted partner for businesses across a broad spectrum of products and services. Our mission is to empower our client base through the creation of affordable, professional business plans filled with applicable strategies that place them in the best position to realize success in all phases of their respective business growth cycles.


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