There are a couple of questions that have been clarified on my blog. I would like to bring a couple of them to your attention, perhaps they will be of help to you. These are real questions asked by visitors to my blog.

Question- There are two questions that I don't understand.
State the process of any loan application.
Describe any existing finance loans related to the business.
Does it mean I will write how to seek for loan or a loan I’m processing currently? Secondly, am I going to describe an existing finance loan am processing?

Answer - For existing businesses, YouWiN wants to know if you have received any finance loans recently or one that is ongoing. If you have, this is the section where you describe the loan.
By stating the progress (not process) of the loan, you are required to describe the stage of the loan. Have you received the money? Are you paying back at the moment?
Question - Does the question ‘How much will you take from the business?’ refer to salary? Or what? Thanks.
Answer - In a way, it refers to your monthly salary. However, it is usually advisable that this amount is not more than twice the salary of your highest paid staff.
Question - Please are 5 staff too few for me to employ in a catering business 12 months after collecting my first grant? Again I don’t understand this – ‘What are your current expected sales within the next months? (Units and income).
Answer - It depends on exactly what you need. Remember that it is counter-productive to employ too many or too few staff in an enterprise. Since you are writing for YouWiN, I would suggest that you employ just an adequate number of staff. Don’t employ less than you need!
This question, about your expected sales, refers to the total income you expect in one full year. YouWiN expects that you give the total number (or units) of goods expected to be sold or services expected to be rendered in that one year, and how much money (in one whole year) you expect to earn from doing that – not profits.
Question - The question ‘What is the minimum cost that is necessary to commence business or expand’ & ‘Describe the equipment ‘.
Answer - YouWiN funds are disbursed in tranches – two, three or four tranches.
This means you are not likely to get all the money you are asking for immediately from YouWiN. So, you must be able to tell YouWiN the minimum amount of money you think you will need in your first tranche in order to commence business (if you are a start-up) or expand (if you have an existing business).
Most likely, this “minimum cost” will cover really inevitable equipment. You will have to describe the equipment.
Question - Please I do not understand this question ‘What amount of sales in naira per month, must you achieve to reach profitability?’
Answer - This question is about your break-even point.
The first phase of any business is usually an initial investment with no profit. Overtime, you grow your income to a level that you become profitable. It is at this point that you can say your income is greater than your expenses.
Your break-even point, therefore, is the amount of your income at the cross over point to profitability. I hope this is clear.

For more questions and answers, watch our YouWiN video training at http://woculus.com/youwin-4-application-common-questions-answers/