La. Admin. Code tit. 19 § VII-6117

Current through Register Vol. 50, No. 8, August 20, 2024

Section VII-6117 - Attachment A

A. Attachment A. The application for financial assistance should consist of a completed LEDC application form and a comprehensive business plan/loan proposal which contains, but is not limited to, the following guidelines:

1. a LEDC Contract Loan Application Form;

2. Executive Summary:

a. business description:

i. name;

ii. location and business facility description;

iii. product or service;

iv. market and competition;

v. management expertise;

b. business goals, including number of employee jobs to be saved or created as a result of this loan;

c. uses of loan proceeds;

d. copy of contract: provide name, address, and telephone number of awarding agency;

e. projected financial results demonstrating payback capability;

3. Operations

i. board of directors composition;

ii. officers: organization chart and responsibilities;

iii. list of stockholders with more than 15 percent ownership;

iv. resumes of key personnel;

v. staffing plan/number of employees;

vi. facilities plan/planned capital improvements;

vii. operating plan/schedule of upcoming work for next one to two years;

viii. list of work backlog, if any;

4. The originating bank may be asked by LEDC to share additional information on which they based a favorable decision;

a. For sole proprietorships:

i. last three years personal, federal and state income tax returns complete with all schedules (as available based upon age of business);

ii. interim business income statement for the current year;

iii. complete personal financial statement.

b. For partnerships or corporations:

i. last three years' business financial statements including balance sheets and income statements;

ii. interim business financial statements;

iii. last three years' business income tax returns complete with all schedules;

iv. most recent personal income tax returns including all schedules with K1s for each owner, general partner, and/or guarantor.

La. Admin. Code tit. 19, § VII-6117

Promulgated by the Department of Economic Development, Economic Development Corporation, LR 21:674 (July 1995).

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2341-2347.