SUBMISSION REQUIREMENTS

Note to potential borrowers: Although this list may seem extensive, we assist buyers
with these elements every day and can assist you in simplifying this process.

Borrower(s):
1. Personal financial statement for all borrowers and/or guarantors of the business.

2. Personal tax returns for the past three- (3) years.

3. Affiliate business tax returns for the past three- (3) years.

4. Brief business plan covering the history of your business and planned use of the loan proceeds. Include a resume of all guarantors involved.

5. Applications from franchise operations must have franchise agreement pre-approved. Provide franchise agreement, FTC Disclosures Statement, and franchisor’s financial statements.

6. A schedule of debts which includes the original date, monthly payment, interest rate, present balance owed, maturity, to whom payable, and collateral securing the loan for each short-term and long-term loan that the business currently has (other than the applied for loan). Please indicate whether each loan is current or delinquent.

7. Corporate documents – Articles of incorporation, Partnership Agreement, Limited Liability Company Agreement, Bylaws, and operating Agreement (as applicable).

8. Offer to purchase or purchase agreement.

9. Affiliate financial statements (all companies owned, controlled or operated by principals). At least three (3) years tax returns and last three (3) fiscal year financials. Year-to-date current financials.

Subject Property:
10. Previous three years of Federal Tax returns.

11. Year-to-date balance sheet listing all assets, liabilities and net worth. For start-up businesses, prepare an estimated balance sheet as of the day the business starts, indicating borrowers equity injection. For existing businesses, provide historical fiscal year-end profit and loss statements for last three (3) years.

12. Profit and loss statements for the current period and the most recent three- (3) fiscal years, if business has been in existence for that period of time. Include aging of receivables. Provide projections for a minimum of two (2) years. Business startup applicants should prepare a detailed projection of earnings and expenses for at least the first two- (2) years of operation. A monthly cash flow projection is recommended. For existing businesses, provide historical fiscal year-end profit and loss statements for the last three years.

13. If proceeds are to be used to purchase an existing business, include a copy of the terms of sale and a financial statement on the existing business. Previous three (3) years of tax returns and financials for the existing business are required unless only assets are being purchased.

14. Copies of leases pertaining to the business and affiliates.

15. Property Improvement Plan cost estimates.

16. List of machinery and equipment to be acquired and prices.