When you send your business plan to banks or other financial institutions in an attempt to receive a loan for your business, include a professional cover letter with the business plan.

How to Design an Effective Business Plan. A thorough and well-constructed business plan can help you start, operate and grow a business, as well as help attract financing.

A business plan should be presented in a binder with a cover listing the name of the business, the name (s) of the principal (s), address, phone number, e-mail and website addresses, and the date.

Based on my experience, business plans for startup companies are usually not worth the effort. Learn what you should be focusing on instead to grow your business.

The following will cover what the financial section of a business plan is, what it should include, and how you should use it to not only win financing but to better manage your business.