Business Development Corporation Of South Carolina Checklist For Loan
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BDC Contact Person:
_________________________________________________________ Telephone: ____________
Name of Borrower:
The Following Must Be In File for SBA Submission:
______ 1. Borrower Information [SBA Form 1919 Revised 4/14)]
______ 8. For a new business, a signed and dated monthly Cash
current within ninety (90) days for each principal with
Flow Analysis for the first twelve (12) months of
20% or more ownership of the small business concern
operation or for three (3) months beyond the breakeven
(SBC), any director or officer of the business (regardless
point (whichever is longer) together with a description of
of ownership), anyone hired to manage day-to-day
assumptions. Cash flow must be signed and dated.
operations of the business as well as any guarantors for
the loan. Business Plan required for a new business.
______ 9. A schedule of debts which includes the original date and
Appropriate documentation for mortgages taken as
amount, monthly payment, interest rate, present balance
collateral (i.e. copy of mortgage, deed, title, etc.). Fee
owed, maturity, to whom payable, and collateral securing
Disclosure and Compensation [SBA Form 159 (7A) (8-
the loan for each short-term and long term loan that the
14)], Packaging Notice and Fee.
business currently has outstanding or has planned for the
next twelve (12) months. Please indicate whether each
Amount of Packaging Fee: $__________
loan is current or delinquent. A Schedule of any personal
______ 2. Personal History Statement [SBA Form 912 (2-2013)]
or business government debts is also required.
current within ninety (90) days for each principal with
20% or more ownership of the SBC, any director or
______
10.The names of any affiliated (through ownership or
officer of the business (regardless of ownership) and
management control) or subsidiary businesses, as well as
anyone hired to manage day-to-day operations of the
the last three (3) fiscal year-end financial statements
business (required on both EPCs and OC). If non-U.S.
and/or federal income tax returns for the last three (3)
Citizen, an INS Form G-845 and accompanying
years. A current Balance Sheet and Profit & Loss of the
documentation (i.e. INS Consent Form, front/back legible
affiliate business dated within the last one-hundred eighty
copy of legal resident alien card) of anyone with 20% or
(180) days. Please be sure all tax returns/interims are
more ownership or anyone who controls the small
signed.
business applicant is required. Legible copy of driver’s
license or state issued ID for each principal of the
______ 11.If the business is a f ranchise, a copy of the Franchise
borrowing entity.
Agreement and the Franchiser’s Disclosure Statement
(required by the Federal Trade Commission), or a copy of
______ 3. Personal Financial Statement [SBA Form 413 (09-14)]
a Certificate of Franchise Documents executed by a
current within ninety (90) days for each proprietor, partner
franchise representative (only applies to franchises listed
or stockholder with 20% or more ownership of the
on SBA Franchise Registry).
EPCs/OCs, as well as any guarantors for the loan. A copy
of the federal personal income tax return for the last three
______ 12.Key cost documents (i.e. real estate purchase agreements,
(3) years is required. If an extension for the most recent
contractor cost estimates, vendor quotes for machinery
year was filed, please submit the previous year’s tax
and equipment, as well as an itemized list of professional
return, as well as the signed extension request form (if
fees). Copy of Note from Interim Lender for debt being
applicable). Please be sure that all tax returns are
refinanced with loan proceeds is required. For any credit
Credit Reports for the each principal and
card debt in the business’ name, a L ender/Borrower
signed.
guarantor current within 90 days.
Certification is to be signed stating the credit card debt
was used for business purposes only. If credit card debt is
______ 4. Resumés for each principal of the borrowing entity or
in a principal’s individual name and is being refinanced
individual involved in the day-to-day operations of the
with loan proceeds, Borrower must prove business related
business.
purchases with invoices and proofs of payment and sign a
Lender/Borrower Certification that the debt was for
______ 5. Three (3) years federal income tax returns for the SBC.
business purposes.
The tax returns must be signed. If the SBC is a new
business, provide a proforma balance sheet with a
______ 13.If Applicable, a co py of the existing or proposed Lease
description of assumptions attached.
Agreement.
______ 6. A current Balance Sheet and Profit & Loss of the existing
______ 14.Environmental Questionnaire, if applicable. Please be
business dated within the last one-hundred eighty (180)
sure this is signed by Purchaser and Seller (if applicable).
days of the application together with an aging of the
accounts receivable and accounts payable listed. Interims
______ 15.Organizational Documents of the Borrower.
must be signed and dated.
______ 16.Request for Copy of Tax Transcripts [IRS Form 4506-T
______ 7. Where applicable, a p rojected, annualized Income
(Rev. September 2015)] for existing businesses. I f
Statement for the first two (2) years after the loan with a
purchasing an existing business, please forward to the
description of assumptions attached. Projections must be
Seller for signature.
signed and dated.
_____ 17. Commitment Letter and Guaranty Deposit Fee
Amount of Deposit: $__________
V:JessicaChecklistsBDCChecklist Applicant 7a_10.21.15.docx
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