hm,
I have to agree with your bank. The reason they will not give you a loan (sounds to me) is because they know facts that businesses without a written plan are more likely to fail. If you were a bank and loaning money, wouldn't you require the same? I know I would, because the loan is nothing to them unless it gets paid off and they know that written and well-prepared business plans make it over businesses without. Odds are 100-1 or maybe more (I haven't reached it). Those are nice odds to add to their portfolio. So nice they should be POLICY!
When the bank takes a look at your business plan, they aren't looking for some super business that's going to make millions. What they look for is a plan that is well written and researched. A plan with many goals, one tied to another like a family tree, and a mission statement for the company in which you are forming or about to start. Good, effective business plans don't just get thrown together in a day or even a week. Good business plans take a lot of time and research. If you just throw it together, I, the bank may wonder if this is the kind of work you'll do in your business.
One walking into a bank to secure a loan or even just one going into business for himself or herself has to consider one very important factor. Ultimately, THE most important factor... a PLAN. Without a plan, how is the business going to get from point A to point B if there is no map? How could you find your way on a road trip if you didn't have a plan or a map? You couldn't. I know exactly what you'd be doing... taking whatever road leads you, and eventually making wrong turns and possibly getting lost. How could they build your house without first drawing up a plan? They couldn't. A well-defined plan must be written and approved before the first shovel goes in the ground.
I hope you see why the plan is so important to the bank and also how important the plan is in your future success. If you don't write this plan, you're just taking the road that will lead you.
My point is, do what the bank has asked. If you want to pressure wash, write it down. If you want to be making $xxxx within the first 6 months, then write it down. If you want to own a fleet of 1000 trucks, write it down. If you want to retire at 50, then write it down. You just wrote the down the map, but this is a general map. Now you want to break it down even further until know exactly what you are going to do with the money tomorrow, and you also know exactly what you'll be doing next week. Stick to that, and you can do whatever you want to do whatever field you choose................... but first and foremost my friend is the commitment to writing a business plan and life plan. Don't be surprised if it takes you a year to write it.
Good luck
It has the ability to cover large areas in significantly less time. He has offered to build us one...to the tune of about $20,000.. of course that includes the trailer to haul it, the water tank, hoses, basically everything needed..except the truck to pull it!
