Make it easy for your lender. By being prepared it indicates a level of management ability.

                    ________  Last 3 years Financial Statements
                    ________  Latest Interim Statements
                    ________  Personal Financial Statements
                    ________  Personal Tax Returns (3 years)
                     ________ Business Plan
                    ________  Projections (3 years)
                    ________  Projections (1 year)
                    ________  Company History
                    ________  Management Resumes
                    ________  Current Order Backlog
                    ________  Collateral Listing & Values
                    ________  Complete Equipment Listing & Values
                    ________  Accounts Payable Aging
                    ________  Accounts Receivable Aging
                    ________  Bankruptcy, Litigation, Felony History
                    ________  References
                    ________  Purchase Agreement
                    ________  Franchise Agreement
                    ________  Partnership Agreement
                    ________  Outstanding Debt Details
                    ________  Permits (Zone, etc.)
                    ________  Other
 
                    *  Many of the above items are included in the Business Plan

The Basic Questions
that may be asked by your lender:

• Who does the accounting function for your business and what are their qualifications?
• Who is your attorney?
• Who is your insurance carrier?
• How does your company collect their receivables?
• How does your company pay their payables, taxes, etc.?
• How does your company control its inventory?
• Does your company have a profitable operating history?
• Is the company growing (sales)?
• Does the company maintain margins?
• Does the company control overhead?
• Is the company profitable and show favorable trends?
• Is there enough collateral for the loan?
• Does the loan make sense for the borrower?

Other Important Items: 

• Offer your lender a tour of your operation.
• Establish a relationship with your lender.
• Once the loan is made keep your lender informed.  In the case of a possible delinquency call your lender before the delinquency occurs.

Reasons for Business Failure:

• Improper management
• Inadequate marketing
• Poor receivable collection
• Poor location
• Poor product line development
• Inadequate financing

Disclaimer  OnlineCatalog Home

"The only limits are, as always, those of vision."                                - James Broughton

Lewis County  Industrial Development Agency