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The City encourages participation of private lending institutions and looks <br />favorably at providing funds to fill the gap between the owner's equity and <br />conventional financing. The City may subordinate its security interest to the <br />private lender. <br /> <br />Required Financial Information <br />· Completed application including a signed personal financial statement, list of <br /> business obligations, and a description of assets to secure the loan. <br /> <br />Business plan including a marketing plan, management plan, and financial plan. <br />The business plan must also include resumes of key management personnel. <br /> <br />Personal federal and state income tax returns for the previous.three years <br />including all schedules and W-2 forms are required. All tax returns must be <br />signed and dated. '~ <br /> <br />For businesses established throe or mom years, corporate federal and state income <br />tax returns for the previous throe years, and for businesses established for one or <br />two years, corporate federal and state income tax returns for the years of <br />operation. All tax returns must be signed and dated. <br /> <br />For businesses established throe or more years, historical financial statements for <br />the last three years including balance sheets and income statements, and for <br />businesses established for one or two years, historical financial statements for the <br />years of operation including balance sheets and income statements. For ali <br />businesses except start-up, a current interim statement less than 60 days old is also <br />required. All financial statements must be signed and dated. <br /> <br />Site information: If purchasing a building or land, a mai estate contract is <br />required. If constructing a facility, the specifications and contractor estimates <br />must be included. If leasing, a copy of the existing or proposed lease agreement <br />must be included. <br /> <br />Use of funds: A budget outlining the proposed use of funds is required. If working <br />capital is requested, a proposed working capital budget is required. If funds are <br />requested to purchase equipment, two bids are required. <br /> <br />Organizational: If incorporated, a certificate, articles, by-laws and all minutes <br />reflecting current stockholders and directors must be provided. If a partnership, a <br />partnership agreement must be provided. If a sole-proprietor, proof of registration <br />must be provided. <br /> <br /> <br />