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Starting a Business in the Greater Hickory Metro Area of North Carolina

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Statement of Purpose

The statement of purpose spells out the propose of this proposal or what the reason is for preparing the request. It should include a very brief summary of the business as an introduction, then the basic points of the financing proposal. This section is frequently written last, after the main business plan has been prepared, and could be modified for different presentations. The statement is sometimes called an executive summary and should include:

  1. What is the business? What are the objectives?

  2. How is the business structured / organized?

  3. Who are the principals involved?

  4. What is the total amount of funding needed to implement the plan?

  5. How will the funds be used and benefit the business?

  6. How much of the funds are being requested from this funding source? At what terms?

  7. What other sources of funding are being considered?

  8. How will the funds be repaid?

  9. Why does the loan or investment make sense?

 
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©Greater Hickory Metro Business Development Network, 2006