If you’re serious about launching or growing a business, a business plan is a must.
Let's be honest—writing a business plan can feel like a huge task. But if you're thinking about applying for a loan, it's one of the most important things you can do. A strong business plan helps you clarify your vision, plan for growth, and show lenders that you're prepared and ready to move forward.
At Craft3, we don't expect perfection. We do want to help you get there—with tools, guidance, and a plan that works for you.
We've worked with hundreds of entrepreneurs who had great ideas but weren't quite ready for financing. That's okay. Getting Loan Ready is a process—and a business plan is often the first big step.
It's not just about checking boxes for a lender. It's about setting your business up for long-term success. Whether you're still in the idea stage or have years of experience, revisiting your plan with a lender's perspective can make all the difference.
Key sections every strong plan should include, distilled into a single actionable page.
You'll want a comprehensive roadmap for your business if you plan to apply for financing.
But here's the good news: you don't have to follow a rigid formula. Think of the traditional business plan format below as a guide, not a rulebook. Pick and choose the sections that make sense for your business and where you are in your journey. What matters most is that your plan tells a clear, thoughtful story—and gives you (and your lender) the confidence to move forward.
Most traditional business plans include some mix of these nine sections—but how you use them is up to you.
Your elevator pitch in writing. Tell readers who you are, what your business does, and why it's going to succeed.
Think of it like a movie trailer: highlight your mission, your product or service, and a quick snapshot of your leadership team, team members, and where you're located. If you're applying for a loan, it's also helpful to include key financial highlights and a sneak peek at your growth plans. Keep it clear and confident.
What problem are you solving? Who do you serve—and how do you make their lives better?
Be specific: Are your customers individuals, families, small businesses, nonprofits?
Then talk about your edge. What makes your business different or better? Maybe it's your location, your expertise, your personal story, or your approach. Brag a little—this is where you get to show what makes your business special.
Every great business starts with a solid plan. This quick video walks you through the basics—why it matters, what to include, and how to get started.
Show that you understand the landscape—who your competitors are, what trends shape the market, and what you can do differently or better.
Research your industry and competitors. What trends are shaping the market? What are your customers looking for? What makes the successful players succeed?
Use this section to demonstrate that you've done your homework—and that you're ready to compete with a clear plan and understanding of your space.
Let readers know who's running the show—and how your team is set up for success.
Start by explaining your business structure: are you an LLC, sole proprietorship, partnership, or corporation? Make it clear.
Then introduce your leadership team. Who's responsible for what, and why are they the right person for the role? Consider using an org chart to show how your team fits together, and feel free to include resumes or bios that highlight relevant experience. You want readers to see that you've got a strong foundation in place.
When Sundown, owner of Chesed Farms, first connected with Craft3, he had a solid idea but didn't have a business plan. We recommended he work with the local Small Business Development Center on a business plan. He put in that work, came back to Craft3, and we were able to make a loan for him to build out a new warehouse space.
What exactly are you offering—and why does it matter to your customers?
Describe your products or services in detail: what makes them valuable, how they help, and if there's a lifecycle (development, launch, improvement), explain that too.
Also note any intellectual property plans—like patents, trademarks, or copyrights—and any ongoing research or development that shows your business is thinking ahead.
If you're applying for a loan or investment, spell out exactly what you need and how you'll use it.
Be specific: how much are you requesting, over what time period, and do you want a loan or equity investment? List what the funds go toward—equipment, payroll, inventory, marketing.
Also share your future financial goals, like paying off debt, building reserves, or expanding operations. The more clearly you connect your request to your business goals, the stronger your plan.
Explain how you'll get the word out—and how you'll bring customers in the door.
There's no one-size-fits-all strategy. Speak to what makes sense for your business: social media, word of mouth, a referral network, pop-up events?
Also describe your sales process. How will people find you, buy from you, and come back again? Be thorough—you'll reference this section when you map out your financials.
Marketing can be overwhelming and hard to make time for. This webinar can help you will learn about the range of digital marketing strategies available to small businesses.
Spell out what you need and exactly how you plan to use it.
Be specific: how much are you requesting, over what time period, and is it a loan or equity investment? Break down what the funds go toward—equipment, payroll, inventory, marketing.
Also share future financial goals—paying off debt, building reserves, expanding operations. The more clearly you connect your request to your business goals, the stronger your plan.
Back up your funding request with numbers that tell your financial story.
If you've been in business for a while, include income statements, balance sheets, and cash flow statements from the past three to five years. Just starting out? Focus on forecasts instead.
Lay out expected income, expenses, cash flow, and capital needs for the next five years—with more detailed monthly or quarterly projections for year one. Make sure everything aligns with your funding request and marketing strategy.
And don't be afraid to use visuals! Charts and graphs can make your numbers easier to understand—and more impactful for your lender.
Our guide breaks down the essentials—balance sheets, income statements, and cash flow—in plain language. Learn how to read your numbers, spot trends, and use financial insights to make smarter business decisions (and impress your lender while you're at it).
Understanding and Using Financial Statements for Your Business →Just like applying for a loan, creating a business plan takes time. You don't have to finish it in one sitting—and it doesn't need to be perfect.
Even a partial plan puts you ahead of the game. Getting your ideas out of your head and onto paper will help you make better decisions and prepare for funding down the road.
Need a little extra help?
You've got this—one step at a time.
Get the resources you need to feel confident and prepared as you grow your business and explore financing options. Each download is designed to make complex concepts simpler and help you move forward with clarity.
Complete E-Book! Everything you need to know to apply for a business loan — business plans, financial statements, lender conversations, and documents. Free from Craft3.
If you’re interested in starting or expanding a business, you’ll likely encounter lots of terms and acronyms.
A printable one-pager summarizing the key sections every strong business plan should include.
A quick-reference guide covering the essentials of income statements, balance sheets, and cash flow projections.
A printable worksheet to help you decide if financing is the right move for your business goals.
A practical worksheet featuring common lender questions, insights into what they’re really listening for, and space to organize your key talking points.
A printable guide to help you see your loan application from a lender’s perspective and prepare more strategically.
A checklist of the financial and business documents lenders typically require when applying for a loan.
A reflective worksheet to help you assess your business's current position and plan ahead for success.
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