Archive for the ‘Business Plan’ Category
1. Determine your goals:
in terms of time, money and real or attainable. The goal is not to have a goal to have it, but it planned, mind and according to the capabilities of your company, your resource, your time and infrastructure you can reach.
Example, an importer of beauty products in the U.S., was placed a financial goal of increasing to 3 months 25% of their earnings.
Gross Monthly Income
Your lender will look carefully at the gross monthly income for all borrowers. This is the amount paid to you before taxes are deducted. If you’re applying on your own, provide pay stubs to verify your income amount. If you’re applying jointly with a partner or spouse, make sure you provide evidence of all income you each receive.
The bank will calculate your affordability based on the net income amount you receive, less any existing repayment obligations you have, less an amount allocated for living expenses.