Assessment of Loanable Business Plan and its Correlation with Bank Loan Provision

Sakiru Abiola, Lawal and Undie Stephen, Bepeh (2023) Assessment of Loanable Business Plan and its Correlation with Bank Loan Provision. American Journal of Economics and Business Management, 6 (8). pp. 174-185. ISSN 2576-5973

Text Assessment of Loanable Business Plan and its Correlation with Bank Loan Provision.pdf Download (619kB)

Abstract

Loanable business plans are an equilibrium between how rooted a business will be and how successful it will be in the future. The effect of not having a loanable business plan on business is corrosive and can be seen as one of the major reasons most businesses fall through within the first five years of their creation. The study assessed the loanable business plan and its correlation with bank loan provision. The study revealed that a well-structured business plan serves as a roadmap for the company's growth and provides assurance to lenders that their investment will be wisely used and repaid. It encompasses various elements, including market analysis, financial projections, and risk assessment. In conclusion, the assessment of a loanable business plan is a comprehensive process that involves evaluating various aspects of a business's operations and strategy. It is a critical determinant of a bank's decision to provide a loan, as it demonstrates the borrower's ability to plan, manage risks, and generate returns. One of the recommendations made in the study was that entrepreneurs should clearly identify potential risks their business may face and outline strategies to mitigate them for this shows lenders that they have considered various challenges and have a plan to address them.

Item Type:	Article
Subjects:	T Technology > TX Home economics
Divisions:	Postgraduate > Master's of Islamic Education
Depositing User:	Journal Editor
Date Deposited:	03 Dec 2023 21:46
Last Modified:	03 Dec 2023 21:46
URI:	http://eprints.umsida.ac.id/id/eprint/12641

Actions (login required)

View Item