How To Create a Profit and Loss Statement for Your Business
We, at EnrichHER, have noticed that many of the founders who fill out our loan application equate profit to revenue.
According to Investopedia, "The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a fiscal quarter or year."
In other words:
Operating Profit = Total Revenue* - Total Costs
*Revenue = gross income
The Profit and Loss Statement is one of three financial documents all companies must submit every year. The other two documents are the balance sheet and the cash flow statement.
If you want to know how you can generate profit, you can utilize your profit and loss statement to focus on generating revenue, reducing costs or both.
Our mission is to provide capital to 100,000 women-led ventures. We're increasing our ability to reach this goal weekly, with 77 businesses applying over the course of the last 7 days. While this is a fantastic number, we need your help to help even more businesses.
We've received a few applications with inconclusive financial information so we're doing our apart to help founders correctly apply for our loans.
We now have access to over $500 million in lendable capital and are ready to help deploy millions to women-led businesses. We have up to $250,000 in loans and lines of credit available now.
12+ months in business
$150k+ annual revenue
620+ credit score
So, if you know a revenue-generating business that is looking for up to $250,000 in non-dilutive capital, please encourage them to apply.
About EnrichHER We bring together a network of successful women-led businesses to accelerate business growth so that we cultivate a thriving ecosystem supported by business financing and a supportive community.
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