The Power of the Business Plan Cover Letter

If the applicant doesn’t know the name of the person who will read the business plan, they should call the bank, lending institution or investor to get the name. Even if the applicant knows the lender, they should still submit a formal business plan with cover letter. If they do not know the lender, they should remember that the lender will judge them by the content and tone of the letter.

Business Plan Cover Letter

If you clicked through to this page, you're likely wondering whether you need a business plan cover letter. The not-so-satisfying answer is that it depends. If you're typically seek a loan or any other kind of funding through a bank, a cover letter it usually unnecessary. Bankers are happy to meet with you, regardless of whether you have a referral, a cover letter, or anything else. If you're seeking venture capital or angel investment—and particularly if you have not secured a meeting through a mutual connection—than a business plan cover letter, or a pitch letter, is essential. A business plan cover letter that is being sent unsolicited to a VC or another investor should include the following:

Business Plan Cover Letter - Free Sample Letters

Business Plan Cover Letters: Parts of a Business Plan .. Before sending out his business plan cover letter, it’s time to make some edits and proofreading though. Read through it a couple of times and run whatever spell and grammar check your computer provides. Note the use of the language. You shouldn’t be over casual, like you are talking to a friend but neither should your language sound formal and stilted. An intelligent, lively, friendly tone is the thing to shoot for with this thing.

Business Plan Cover Letter to Bank by fns12256

The how you will solve these problems section is a straightforward description of your business strategy. When in doubt, make sure that you cover all the "W and H" questions. Who is the customer. What will you do for the customer? How much will you charge. Why is this a needed or valuable service? Why is it different from what already exists? When can you start? What do you need to get started? Considering that your business plan should already have this information in it, this should be an easy portion of the business plan cover letter to write.

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The Business Plan Cover Letter is a plain text introduction, usually the first page of the proposal. It is a little more informal than the proposal to follow. Print this document on your company letterhead and signed by the President, Board Chair or other authorized executive. This version is meant for use with business plan proposals.Now that you have an idea how important a business plan cover letter is, let’s discuss some of the factors that should go through your mind before you start writing one. First and foremost write the business plan cover letter as if it is a freestanding document that can give the reader an idea what your business is about whether or not he or she reads the rest of the business plan. Don’t refer to the business plan in the letter with things like "as the Executive Summary states " or anything like that. If the busy reader has a pair of documents arrive in the mail, one of which is one page long and the other that is twenty, he or she is going to read the one page one first and then decide whether to read the twenty pager at all.