Financial Plan & Funding Types

Forecast Cost & Revenue

Calculate your finances

Starting a business can be expensive. Be sure that you prepare enough money to run your business for at least the first several months. This may include the amount of money you need to cover your startup expenses such as buying equipment as well as permit or license fees. It may take time to set up before you have enough customers to be profitable.

Using the calculations and estimates from your business plan, decide if you have enough money to begin, or if you need additional capital first. Lenders want to see that you have some of your own capital invested in your business.

Financial Projections

You will need financial projections for at least the first three years of operation.

Break Even Point

Determine how long it will take for your business to become profitable: How many customers might you need? How long will it take to find those customers?

Sources and Uses of Funds

Show a summary of major purchases (the sources) and what specific capital will purchase (the uses).

Remember that a business plan is required when applying for bank funding.

Take a Class on writing a financial plan at SBDC

The Small Business Development Center (SBDC) helps entrepreneurs realize the dream of business ownership. The SBDC advisors provide a variety of FREE business consulting and low-cost training services.

They have online courses as well as classroom courses.

Parking Instructions:

Please park in Lot O. Remember to purchase a $2 parking pass at the machine located to the right of the lot entrance. All attendees must park at any “non-staff” and “non-30 minute” lots.

Open Hours: 5:00 am to 9:30 pm

Transit Instructions

Buses 93, 101, 103, 111/112, and 176 all serve the SBDC and can be caught from the transit mall located on first street in downtown Long Beach.

Funding Sources

Here are some ways to get additional money if you need it:

Funding Search Tool

Many local, state, and federal agencies provide other tax credits, loans and grants. Some of these offerings are targeted for certain types of businesses.

Federal Loans

Fill out a short questionnaire and you can be matched with participating SBA Lenders through the LINC (Leveraging Information and Networks to access Capital) online referral tool. Submit your loan needs and LINC will connect you with lending partners and the SBA-backed financing programs to help get your business off the ground.

City Loans

The City of Long Beach has a loan program for small businesses. City loans are based on the quality of your business plan as well as your resume and other personal qualifications. Credit score is part of the decision, but a low credit score might not prevent you from getting a loan.

Before applying for a City loan, you should obtain a copy of your credit report to check your credit status. Once a year, you can get a free copy of your credit report

Since City loan programs are funded by the government, all tax liens must be addressed/cured before submitting an loan application.

Sources and Uses of Funds

When applying for loans, you’ll need to show how you intend to use the money. Here’s an example of how to show that in a chart:

Sources City Loan Owner's Equity Total
$35,000 $10,000 $45,000
Working Capital $10,000 $5,000 $15,000
Machinery, Equipment, Fixtures, and Furniture $20,000 $20,000
Tenant Improvement $5,000 $5,000
Inventory $5,000
Total $35,000 $10,000 $45,000


Grants are money given to you that you do not have to pay back. The money is sometimes restricted to certain uses, like repainting the front of a store or buying better equipment. Some grants are given in cash, while others pay you back (“reimburse” you) for money that you spend.

Business Start-Up Grant

This grant is designed to assist new businesses by providing federal grant funds in an effort to defray costs associated with the starting of the business. The program may provide up to a $2,000 reimbursement grant to eligible businesses.

Commercial Improvement Rebate Program

This provides rebates of up to $2,000 per business to commercial property owners and business owners to improve the exterior of their commercial properties along designated business corridors. Exterior improvements such as painting, signage, exterior tile or brick veneer, window replacement and security lights are some of the businesses favorite exterior improvements. Pre-approval is required for all proposed improvements.

Private Loans

Many banks will also give loans to small businesses. The requirements for these loans may be more demanding and interest rates may also be higher. We encourage you to contact your bank for current rates and terms.

Documentation for approaching lenders

Make sure to bring your tax returns. We recommend separating your personal versus business expenses.