Checklist for Business Acquisition Financing

Checklist for Business Acquisition Financing

Loan Application Purchase agreement Three years federal tax returns and annual financial statements

(if available) on the company being purchased. Interim financial statement if year end more than six months old Accounts receivable and accounts payable agings for business being acquired (if these items are material) List of assets and estimate of values for business being acquired Personal financial statement in MBC or similar format on each "new" principal/owner. Statement should exclude spouse's assets unless spouse is involved in the business or expected to offer a guaranty. If using a non MBC format, include a Credit Authorization. Two years federal and state income tax returns for each principal If available, a short description (executive summary business plan) of what changes the new owner will make and how it will affect financial results (rough projections) Biography and qualifications of new owner

Questions?

Contact MBC at (866) 642-4287 or loans@

Additional items may be needed for complete underwriting

MBC Core Credit Criteria Character, credit history and capability of management

Net worth of business compared to debt level Liquidity of business

Historical profitability of business Historical cash flow of business in relation to debt payments

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