Step 3: Final Qualification
Welcome to the final stage of qualification. If you made it this far things
look good! At this point our loan officers have reviewed the prequalification
information you submitted in response to the Proposal/Term
Sheet. Now there are a few more pieces of your financial puzzle
we need to review before we can issue a commitment letter.
Please provide us with:
- A detailed breakdown
of total project costs
including costs for building construction, acquisition of real property or equipment,
leasehold improvements, as well as, any debt to be refinanced, amount of working
capital needs, and closing costs.
- Three (3) years of historical financial statements on your company including
income statements, balance sheets, and cash flow statements with accountant notes.
- Interim financial statements on your company dated within 60 days of your
loan application.
- Your company’s projected financial statements as follows:
- Operating projections for three (3) years, to include monthly spreads of
income and cash flow for the first year, and annually for years two and three.
Please include projections for repayment of proposed loan and other debt to be
incurred.
- Startup balance sheet for the borrowing entity showing the proposed distribution
of assets, liabilities, and equity.
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©2007 Business Carolina, Inc.
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