COMPANY BACKGROUND

Step One:  Answer two qualifying questions to make sure you are elligible for the loan program.

Do you have less than 100 employees in your business? Yes No
(If over 100, it does not qualify for some programs.)

Is the average annual sales of your company over the past three years under $5 million? Yes No
(If average annual sales for the preceding three years exceeds $5 million, it does not qualify for some programs.)

Step Two:  Fill out the following background information for your business.  This is the essential data that a bank will need to know in order to begin the loan process. To save both you and the bank valuable time, please fill out the following information and print this page for your records before you proceed to the next section.

Last Name                        First Name                          Middle Initial 

Company Name

Address City   State

Phone Fax   

E-mail Website  

Type of Business: Choose one- Corporation Sole Proprietor  Partnership

If Corporation: Limited Liability Company Subchapter S Other

If Partnership: Limited Other   Do you have a written agreement? Yes No

Please enter numerical numbers rounded to nearest dollar and omit punctuation, for example: for $100,000.00, please enter 100000.

Loan Amount:  

List how you are allocating the loan proceeds, place each item and amount on a separate line.  For example, if you are spending $40,000 on equipment, place "Equipment, $40,000" on one line.  *This box is for your use only.  The bank will need to know how you are allocating the funds.

Step Three:  Press "Send Amount" to record your loan amount.

Step Four:  Print this page for your records before proceeding.  This is the essential data that a bank will need to know in order to begin the loan process. 

Step Five:  After you have printed your company background, please proceed to the next section by clicking on "Management" in the left-hand column or the arrow to the right.

MANAGEMENT EXPERIENCE

Step One:  Please select one answer for each of the following questions.

1.  Have you had any management training?     Yes      No

2.  Do you have any management experience? Yes      No

3.  How many years of management experience do you have in the type of business the loan will benefit?     0 Years   1-2 Years   3-4 Years   5-6 Years  7+ Years

4.  Do you have an experienced, successful management force assisting you? Yes      No

If you do not have management experience related to this type of business and you do not have an experienced, successful management force assisting you, chances of finding a lender may not be very good.

5.  If you are going to manage the business, will you do it as a full-time venture? Yes      No

Step Two:  Press "Send Score" and your management score will be placed in the left-hand frame.

Step Three:  Print this page for your records.

Step Four:  After you have printed your management experience information, please proceed to the next section by clicking on "Credit" in the left-hand column or the arrow to the right.

CREDIT HISTORY

Step One:  Please select one answer for each of the following questions.  If you answer "No" to question two, please skip to question five.

1.  Have you defaulted on a loan?     Yes      No

2.  Have you previously filed for bankruptcy?    Yes      No

     * If yes to No.2, was the bankruptcy more than 7 years ago?   Yes      No

     * If yes to No.2, was the bankruptcy paid back in full?   Yes      No  

3.  Have you ever been a cosigner for someone's loan?  Yes      No

4.  Do you have a record of on-time payments for the last three years?    Yes      No

5.  How many loans were repaid on-time in the last three years?     0      1-2     3+

6.  Do you have a good working relationship with your bank?    Yes      No

7.  Has your bank responded well to other personal or business ventures?    Yes      No   If no, please explain:

Step Two:  Press "Send Score" and you credit score will be placed in the left-hand frame.

Step Three:  Print this page for your records.

Step Four:  After you have printed your credit history, please proceed to the next section by clicking on "Repayment" in the left-hand column or the arrow to the right.

Step Two:  Answer the following questions.

1.  Projected monthly net profit (after ALL expenses) before taxes.   

2.  Now compare your monthly payment with your projected net profit.  Will your future profits provide for the repayment?  Yes      No 

3.  Do you have a well-written developed business plan? Yes      No

If yes, has someone knowledgeable about business reviewed and commented about your plan? Yes      No

If suggestions for improving the plan were made, did you adopt any of the suggestions? Yes      No

If no, following are several resources for writing and improving your business plan: SBA Business Plans and SCORE: 'Templates for Your Business'.  When you are finished reviewing the websites, simply close the window.  Each of the links initiates a new window.

4.  Is there enough profit for you to live on? Yes      No

If no, can you make additional money from other means to survive until the business can provide a livable existence? Yes     No

Step Three:  Press "Send Score" and your Repayment Ability score will be placed in the left-hand screen.

Step Five:  After you have printed your repayment ability information, please proceed to the next section by clicking on "Equity" in the left-hand column or the arrow to the right.

EQUITY
Equity is the difference between your business assets and business debts.  If you have nothing left over after paying all of your debts of the business, then you have no equity.  Generally, lending institutions want to see that the applicant has equity (assets minus debt) of least one half of the organization's total debt, including the loan amount.

Step One:    List all assets. Please enter numerical numbers rounded to nearest dollar and omit punctuation, for example: for $100,000.00, please enter 100000. Make sure you list the assets the loan will provide.  For example, if you plan on purchasing a parcel of land with the loan - list it as real estate.

Step Two:  List all business debts.  Please enter numerical number rounded to nearest dollar and omit commas in large numbers, for example: for $100,000, please enter 100000.

Step Three:  Press "Calculate Equity" to tabulate your equity total.  This is a percentage based on the number that you provided. Then Press "Calculate Equity Ratio" to tabulate you Debt to Equity Ratio.

Step Four:  Press "Send Score" and your Equity score will be placed in the left-hand frame.

Step Five:  Print this page for your records.

Step Six:  After you have printed your equity information, please proceed to the next section by clicking on "Collateral" in the left-hand column or the arrow to the right.

COLLATERAL
Collateral is the property, cash or other valuables that you will put up as security for the loan.  If you fail to meet your loan obligations, the lending institution will probably take possession of the collateral securing the loan to help pay it off.  The lender will put a value less than yours on your collateral.  To give you a better idea of the value of your collateral, we have calculated the collateral as a lending institution would.  You start receiving points when your collateral is worth 40 percent of the loan.

Step One:  List all collateral.  Please enter numerical numbers rounded to nearest dollar and omit punctuation, for example: for $100,000.00, please enter 100000. If you place a comma in the numbers, "NaN" will show up in the total box.  Then press "Total Value."  The Review will calculate the total value of your collateral.  The total IS NOT all the values added together, other factors like market value and depreciation have been taken into consideration.

"To secure the loan, the borrower must pledge available business and personally owned assets. Loans are not declined when inadequate collateral is the only unfavorable factor. Personal guaranties of the principals are required." --Small Business Administration

If you own your home, would you be willing to put your home up as collateral? Yes      No 

Step Two:  Press "Calculate Percentage."  This number represents the percentage of collateral you have versus the loan amount. 

Step Three:  Press "Send Score" and your Collateral Score will be placed on the left-hand frame.

Step Four:  Print this page for your records.

Step Five:  After you have printed your collateral information, please proceed to the next section by clicking on "Score" in the left-hand column or the arrow to the right.