I have tried projections in Excel before and depending on the complexity you could be hours messing about with formulas to match the P&L to the Cashflow and Balance Sheet. If your accounting is rusty I would try a software package.
I normally use the Sage forecasting package which is very good but I'm not sure how user friendly it would be to a non-accountant.
The Big Red Book have a software package which produces financial projections as well as business plans. I have only had a quick look at the demo and it looks ok as long as you don't have any complicated transactions. Maybe another AAM user has more experience of this.
Before you go to the bank, try to get someone else who is in business to have a look over the projections to see if they make sense.
Best of luck!