What ..... you need the money for?
USE of FUNDS:
Provide explanation of what you need the money
for. In general lenders prefer to lend for the
acquisition of hard assets rather than for working
capital. Hard assets include:
1 Land & Building
3 Machinery & Equipment.
Who...........your character and ability to operate
the venture.? top
Who...........your character and ability
to operate the venture.
Lenders want to fund business operated by individuals
of good character, with a proven track record.
If your venture is a start-up, or acquisition
provide a brief narrative explaining your academic
training & professional (work) experience
that will enable you to operate this business
Please inform us of any credit difficulties at
the earliest point in the process.
Where........is the project located? top
Provide a brief narrative description of the
planned project. Describe where the business operates
(city, town & state) whether the property
is owned or leased and how many years in existence.
Explain how the funding will benefit the business.
How….will the debt be repaid and what will
you invest? top
How...........will the debt be repaid
and what will you invest?
It is important to both you & the lender
that your project is able to repay the debt. The
ability to repay a loan from the business cash
flow is the most important issue to most lenders.
The easiest deals are those that show historical
repayment ability for the proposed debt. For a
start-up, or where historical debt repayment is
inadequate, proforma (projected) income statements
must be submitted. Our staff is available to assist
you in this effort.