Whether you’re a newbie or an established entrepreneur, you’ll need a good business plan along the way especially if you’ve been considering applying for a bank loan to secure additional capital.

A business plan will help you determine if your loan application is a successful one or not. When writing a business plan, always remember that it’s a sales tool and that it should be easy to read, engaging, and persuasive. It is also important to create realistic goals and set a deadline.

For more tips on how to write a good business plan, click here.