A money lending business plan provides an invaluable strategic guide to establishing and successfully running a lending operation. Develop a complete description of your services or products. The business plan should have a section that explains the services or products you offer. This is the part where you can also describe how they fit together. Remember, a well-designed business plan should be dynamic and adaptable. Continually review and update your business plan as market conditions change and new opportunities arise. Your business plan will be a valuable tool for attracting investors, securing financing, and guiding your private lending company toward long-term success. Traditional business plans use a combination of these nine sections. Executive summary. Briefly tell your reader what your business is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's management team, employees, and location. First, you must register your business with the Securities and Exchange Commission or the SEC. Republic Act No. states that a loan business must already be registered only as a corporation and not as a sole proprietorship or partnership. The law also sets the minimum amount of paid-up capital at one million. Next, you will need to register to pay your taxes with HMRC. As a self-employed person, you will have to manage your own taxes. If you choose to register as a limited company, you will also have to pay corporation tax. Additionally, if your lending business can bring in more than 85 people, you will need to register for VAT. Bring a business consultant or accountant who can help you. 8. Apply for a business loan. To make sure you're ready for your loan interview, follow these tips: Check the financing details carefully - if you find a much cheaper financing option that seems too good to be true, find out why it's cheaper. business than simply registering it with the state. We've put together this simple guide to starting your microcredit company. These steps will ensure your new business is well planned, properly registered and compliant with the law: Plan your business. A clear plan is essential for success because,