Can you apply for a Bank Loan with a Pitch Deck Business Plan vs. Pitch Deck

1. Can you apply for a Bank Loan with a Pitch Deck? Business Plan vs. Pitch Deck When applying for a loan, it makes sense to present detailed documentation about your business, including all of its most important (financial) aspects of course. The purpose of these documents is to show your business’s prospects of repaying your debt. So it is understandable to submit the most thorough bank loan business plan you can formulate. However, you may be surprised to know that you can apply for a bank loan with a Pitch Deck just as well. Namely, because loan officers can be overwhelmed with dozens of lengthy applications, having something compact that conveys the most important information will immediately stand out in the sea of Bank Business Plan pages. So here are some pros and cons, to help you choose the best application format.

2. Business plan - a comprehensive description Business plans are a necessity for operating any business. Besides providing great guidelines that can help you make better business decisions, they are a detailed description of your business as well. This makes them extremely beneficial, especially if you wish to apply for a bank loan. Bank loan business plans include your business’s past, present and even future finances, in addition to everything else that will convince loan officers just how successful your business is, and more importantly, will be. Lenders will be looking for all of the factors that show your business will keep producing a steady revenue: how it is organized, how it is operating, how skilled your personnel is, and how responsible you are with your finances. · · Dangers of TL;DR Like mentioned before, keep in mind that long bank loan Business Plan can be an immense strain to the reader. Being bombarded with information can be tiresome, therefore, submitting lengthy documents can backfire on you. Loan officers can get lost in the array of data you have to offer about your business. The goal is not to make them yawn and want to skip to the next page (or worse - next business plan), but to keep them engaged and interested instead. Pitch deck - when less is more Applying for a loan with a mere presentation can seem unorthodox, but it surely has it’s benefits. Because you will be limited to a few slides, you will be forced to put only the most crucial information in them. Stripping your business to its bare bones will instantly show loan officers exactly what they are looking for. Skipping all the formalities, and getting straight to

3. the point is surely a great way to grab someone’s attention. But not only that, having a limited number of slides will also force you to get creative, and find the best way to present your business’s heart and soul, leaving a lasting impression on your audience. · · Sometimes, less is just less Making an attention grabbing Pitch Deck is definitely not as easy as it looks, because what seems to be its strength can also be its weakness. Since pitch decks are limited to only a few slides, you really need to make an impactful presentation, or things can easily go sour. You have a small window of opportunity to impress your audience, so make sure every slide counts and think carefully about how you will present your information to them. Both Bank Business Plans and pitch decks have their good and bad qualities. When it comes to the battle of the formats there is just not a clear winner. But knowing all of the benefits and downfalls can definitely help you make the best decision. It all comes down to the individual case, so think long and hard what is best suited for you and your business. In either case, make sure your chosen format addresses a loan officers main concern: whether or not you’ll be able to repay your loan!