What is a project report?
A project report is a formal document that includes every element of your company's operation. It describes the type of your company, the products or services it provides, the market potential, the cost of the project, the funding needed, and the expected returns. Essentially, it is a business loan project report that assists the bank in evaluating your company idea and determining the level of risk associated with providing you money.
Every bank, both public and private, requires a complete project report as part of the loan documentation procedure. It explains how much capital is needed, how the funds will be used, the estimated profit, and when and how the loan will be repaid. In short, a strong project report for a bank loan helps build the lender’s confidence in your ability to run a successful and sustainable business.