1. Imagine you are reviewing a business plan. In which section of the business plan would...
1. Imagine you are reviewing a business plan. In which section of the business plan would you expect to find the answers to the following questions?
|
Question |
Financial Statements |
Marketing & Sales Management |
Service or Product Line |
|
|---|---|---|---|---|
| How much money will the owners invest in the business start-up? | ||||
| How will the salespeople for this business be compensated? | ||||
| What are the unique features of this business’s merchandise? |
2.
As you have planned for your new business, you have obtained a lot of valuable information from the U.S. Small Business Administration (SBA). You are now at the stage where you are arranging for financing. Which of the following are true about SBA financial programs? Check all that apply.
A.)The SBA has a program through which it guarantees loans made by commercial lenders.
B.)If you cannot get a loan through a bank, the SBA has a variety of lending programs that might help you obtain a loan.
C.)You should not assume that an SBA loan will be available to your business. SBA loans are not a major source of new business funding, due to restrictions on who can obtain SBA-backed loans and to budget cutbacks at the SBA.
D.)If you are denied a bank loan, the SBA ensures that you will have access to capital.
Homework Answers
Question 1
Financial statements shows how much money will the owners invest in the business start-up.
Marketing & sales management shows how will the salespeople for this business be compensated.
Service or product line shows What are the unique features of this business’s merchandise.
Question 2
Option A is true about SBA financial programs.
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