Project Report for Bank Loan
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NEED FOR PROJECT REPORT FOR BANK LOAN
Whether you want to start a new business or a project or you want to expand your existing business, finance is the primary requirement for any business. When you have a great idea but do not have any money to execute it, you could look for loans from banks & financial institutions. While there are many requirements to get a loan from the bank and these requirements vary from bank to bank & according to the amount & type of loan you are looking for, a project report is also a very important document that needs to be prepared for the purpose of loan.
PROJECT REPORT FOR BANK LOAN
A project report for a bank loan is a document which details out a business or project for which finance is being sought. It contains details about the financial, economic, managerial, technical aspects of the project or business in question.
ELEMENTS OF A PROJECT REPORT FORMAT
A project report format for a bank loan should consist of the following elements:
- Summary of the business/project:This talks about what the business or the project is, about the requirement of finance, etc.
- Scope & prospects of the business:Describe the scope of the project, its current status & the prospects of the future. It is about the technical & financial feasibility of the project.
- Details about the promoters & other significant executives:Details out the profile, educational qualification, experience of the promoters & key personnel.
- Resources required:Infra, machinery, know-how, etc.- Describe the Infrastructure & technical requirements of the project, along with the cost & capacity.
- Details about the target & prospective customers:State the consumer profile of the project in question, about the prospects of scaling up & target customers.
- Investment required:Specify the details about the investment required along with the specifications. This is essentially the cost of the project
- Sources of finance:How the required funds are being sourced. Details about the owned & external funds.
- Project financial statement:It includes the financial statements such as Balance sheet, Profit & loss account
- Financial Projections: Quantitative projection on Income, expenses, sources of funds & application of funds
- Ratio analysis: Computation & analysis of financial statements through key ratio & their implications is required.
- Funds flow Statement: Details about the funds- from where it is sourced and the application of funds are included.
- Breakeven analysis:Analysis of the breakeven point of the project, it’s feasibility in terms of cost & benefits
- Conclusion:Conclusion about the project, about its strengths, weakness, opportunities & threats
TaxOnTime experts can help you create well-researched project reports for your business.