If you’re looking to borrow money from a lender, you’re going to write a loan proposal. In the proposal, you’ll need to outline who you are, where your business is today and where you would like it to go, what you plan on doing with the money, and more – all while striking the balance between selling yourself and not being too “salesy.”
But what if you’re not a great writer? What If you don’t have the skills or experience necessary to craft the kind of proposal that will secure the funds you need for your business? In those cases, you’d be well advised to hire a proposal writer.
When looking for the right writer for you, it’s important to ask the right questions. Here are some things to look for to help you to find the right loan proposal writer for you.
Find someone who wants to work with you long-term
If your potential writer thinks of a loan proposal writing project as a one-off thing, don’t hire them. Business plans constantly need to be revamped and revised all the time, and it will be much more beneficial to you if you can hire someone who will be able to work with you on a long-term basis. This way, your proposals (and other business writing, should you require those services, too) will all be done by the same person. That will give them the same voice and style, which can be important.
Find someone who has experience in your industry. If you are looking to borrow funds for your business in the technology industry, try to find a proposal writer who has experience in writing proposals for that industry. Not only will they be able to write an effective loan proposal for you, but they will also be able to give you tips about the substance of your proposal, too. For example, they’ll be able to tell you whether your expectations are realistic, whether your projected profits are too high, or whether you may be able to secure some of your proposed funding in another way.
Hire from within
One of the best ways to find someone who will likely stick with you in the long term, someone who knows your business inside and out, and who has the industry experience necessary to write an effective proposal for you, consider hiring someone who already works for you. Recruit someone from within your organization to do the job for you. Remember if things go wrong with your loan proposal, court fees and legal aid alone can destroy your cash flow.
There comes a time in nearly every business’ history when it becomes necessary to secure additional funding for their business. Whether it’s for expansion, to buy more inventor, to hire more employees, or whatever the reason, securing a loan is a reality of running a business. When you approach a lender, you’re going to need to present a well thought out, well drafted, and compelling proposal that tells them who you are, why they should lend you the money you need, and what you plan to do with it. If you don’t have the experience to create this proposal yourself, don’t. A poorly drafted proposal can cast you in a very unfavourable, unprofessional light, which can start you off on the wrong foot with the lender right off the bat. Instead, hire someone to write it for you for maximum success.