92 | How to Write a business Plan
Loans Secured by Personal Property Bank (or other lender)
Merchant’s Bank
Terms
Amount Owed
Secured by 1989 Honda: 48 mos; will $
1,000
be paid off Sept. 20—
Total Personal Property Loans
$
1,000
Loans Against Life Insurance Policies Insurance Company
Reliable Life
Terms
Amount Owed $
3,987
Total Insurance Policy Loans
$
3,987
Terms
Amount Owed
$5,000 against policy; 60 mos. at 6% interest
Other Liabilities Name of Creditor
Mother-in-law
Whenever I can repay—no worry
$
1,000
Total Other Liabilities
$
1,000
Total Liabilities
$
110,460
Total Net Worth (Total Assets Minus Total Liabilities)
$
91,313
Total Liabilities and Net Worth
$
201,773