Frequently Asked Questions
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How Can We Help?
What is a business plan and why do I need one?
A business plan outlines your business goals, strategies, and financial projections. It’s critical for securing funding, guiding startups, and ensuring long-term success.
How do I know if I need a business plan?
What types of business plans do you create?
How long does it take to create a business plan?
What information do I need to provide for my business plan?
You’ll need to share details about your business concept, target market, competitive analysis, financial data, and objectives. Don’t worry—our team will guide you step-by-step.
Are your business plans tailored to my specific needs?
Absolutely. Each business plan is customized to align with your unique business goals, industry requirements, and target audience, ensuring relevance and effectiveness.
How much does a business plan cost?
Pricing depends on complexity. Contact us for a personalized quote—we offer competitive rates and unmatched value.
Do you offer a refund if I’m not satisfied with my business plan?
How do I get started with Legacy Business Plans?
What are examples of business plans?
What 5 things should a business plan include?
What are the 7 steps to a business plan?
The steps include market research, defining objectives, business strategy, marketing plan, financial forecasting, organizational structure, and review for investment readiness.
Can I write a business plan myself?
While possible, a professional business plan with detailed financial projections and market research increases your chances of securing funding or a visa.
What is an immigration business plan?
Do I need a business plan for EB-2 NIW?
Does the SBA require a business plan?
The Small Business Administration (SBA) requires a comprehensive business plan to assess eligibility for startups and business expansion.
Do I need a business plan to get investors?
Absolutely! A strong, investor-focused business plan highlights growth opportunities, financial projections, and ROI, which are critical for securing funding. It is highly recommended to complement it with a strong pitch deck presentation.
What is one example of a franchise business?
An example of this is a fast-food franchise backed by a comprehensive franchise business plan that outlines costs and profitability.
What Prevents You From Obtaining an SBA Loan?
The 8 critical factors that prevent you from obtaining a small business loan include:
A bad credit history
Insufficient cash flow
Lack of business plan
A lot of loan applications
Disorganization
The failure to seek expert advice
History of Delinquency
Bankruptcies
Tax Liens and Liabilities
Do I Need A Traditional Or Lean SBA Business Plan?
When applying for a loan, it is important to include a comprehensive business plan. Both the SBA and SBA lenders have a preference for companies that demonstrate a thorough plan for achieving success. While lean business plans are typically suitable for startups, traditional business plans are suitable for any type of company. However, if you are specifically applying for an SBA microloan for a startup, a lean plan may suffice.
Can My SBA Business Plan Change Over Time?
What Is A 7(a) Loan?
What Is A 504 Loan?
The 504-loan program provides long-term, fixed-rate financing for major fixed assets that promote business growth and job creation. 504 Loans are available through Certified Development Companies (CDCs), which are SBA’s community-based partners and are certified and regulated by the SBA.
The maximum loan amount for a 504 loan is $5 million. You can use a 504 loan for the purchase or construction of existing buildings or land, new facilities, long-term machinery and equipment, improvement or modernization of land, streets, utilities, parking lots and landscaping, and existing facilities. 504 loans cannot be used for working capital or inventory, refinancing debt, or real estate investment.
What Is A Microloan?
A Microloan is a smaller size loan of up to $50,000 provided through SBA funding intermediaries. Credit requirements varied depending on each lender. Many lenders required some type of collateral as well as the personal guarantee of the business owner. Microloans can be used for working capital, inventory, supplies, furniture, fixtures, machinery, or equipment. Microloans cannot be used to pay existing debt or purchase real estate.
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