Express Loan ProgramDirect Loan ProgramLoan Guarantee ProgramLoan Package Outline
Loan Package Outline  
  In support of your loan request, you will need to provide the following
1. A written description of the existing or proposed business.
2. Resumes of each owner and key management personnel.
3. Current personal financial statements are required for all principal owners (20% or more) and guarantors, together with the copies of the last three years Federal Income Tax Returns.  Financial statements should be supported by cash flow schedules, budgets, and other appropriate information.
4. Written statement indicating how the loan funds are to be repaid, including repayment source and time required.  This written statement should be supported by cash flow schedules, budgets, and other appropriate information.
5. Financial data on business.  For an existing business provide tax returns and financial statements for the past 3 years.  A recent interim statement should also be provided.  A recent aging of the accounts payable and accounts receivable should also be included as well as a schedule of the term debt.  Other balance sheet items of significant dollar amounts contained in the interim statement should be explained as to the future of the item.
6. For a proposed business provide a proforma balance sheet reflecting source and use of the both equity and borrowed funds.
7. Projections of the future operations should be provided for at least one year on a monthly basis.  The assumptions used in preparing the projections should support the need for the funds requested and reflect the ability to repay the loan.
8. Additional items as requested.  These items might include: leases, purchase agreements, contracts, purchase orders, partnerships agreements, etc.
 
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