Applying for a business loan is a major step for any small business owner. Whether you're launching a new venture or expanding an existing one, a well-crafted business plan is essential to securing the funding you need. At National Bank of Arizona, we want to help you succeed—starting with a strong foundation. Here’s how to create a business plan that will impress lenders and set your business up for success.

Why a business plan matters

A business plan is more than just a formality—it’s your opportunity to show lenders that you understand your market, have a clear strategy, and can manage your finances responsibly. A strong plan demonstrates that you’ve done your homework and are prepared to use the loan wisely.

Related Article: Common Business Funding Mistakes and How to Avoid Them

Key components of a business plan

Here's what your business plan should include:

1. Executive Summary

This is the first section of your plan, but it’s often written last. It provides a snapshot of your business, including your mission, product or service, target market, and financial highlights. Keep it concise but compelling—this is your elevator pitch on paper.

2. Company Description

Detail who you are, what you do, and what sets you apart. Include your business structure (LLC, sole proprietorship, etc.), ownership, and a brief history if you’re already operating.

3. Market Analysis

Show that you understand your industry and target market. Include data on market size, trends, customer demographics, and your competition. Explain how your business fits into the landscape and what gives you a competitive edge.

4. Organization and Management

Outline your business’s organizational structure. Introduce your leadership team and their qualifications. If you’re a solo entrepreneur, highlight your relevant experience and any advisors or consultants you work with.

5. Products or Services

Describe what you’re selling or offering. Focus on the benefits to your customers and what makes your product or service unique. If applicable, include information about your supply chain, product lifecycle, and any research and development.

6. Marketing and Sales Strategy

Explain how you plan to attract and retain customers. Detail your pricing, advertising, promotions, and sales tactics. Lenders want to see that you have a clear plan to generate revenue.

7. Funding Request

Specify how much funding you need, what you’ll use it for, and how it will help your business grow. Be clear and realistic—break down the costs and tie them to specific goals.

8. Financial Projections

Provide financial forecasts for the next three to five years. Include income statements, cash flow statements, and balance sheets. If you’re already in business, include historical financial data. This section shows lenders that your business is financially viable and that you'll be able to repay your loan.

For more help creating your financial projections, check out: How to Build the Financial Projections You Need for an SBA Loan.

9. Appendix

Use this section for supporting documents like resumes, permits, legal documents, or additional data that strengthens your plan.

Download a sample business plan

Tips for success

Be honest and realistic. Overly optimistic projections can raise red flags.

Tailor your plan. Customize your business plan for the specific loan you're seeking.

Keep it professional. Use clear language, proper formatting, and check for errors.

Get feedback. Have a mentor, advisor, or accountant review your plan before it's submitted.

We're here to help

At National Bank of Arizona, we understand that writing a business plan can feel overwhelming. That’s why our small business specialists are here to guide you through the loan application process. Whether you need help refining your financial projections or understanding what lenders look for, we’re just a call or visit away.

Ready to take the next step? Schedule an appointment at one of our branches and start your journey toward securing the funding your business deserves.