MCA Loan

Please prepare the following information to start preparing/reviewing an MCA loan request:

  1. Applicant History - Background of how/when the business was started and details on current operations.  
  2. Applicant/Business Operating Agreement &/or By-Laws
  3. Management Background – Identify owners/management and their background
  4. Personal Financial Statement,  personal tax return and credit report for all owners with 20% or more ownership (personal guarantee required by owners with ownership of 20% or more)
  5. Demographic Information and Statement of Personal History for owners; provide a copy of driver’s license if available
  6. 3 years Business Tax Returns
  7. Business interim financials (balance sheet and profit/loss statement) to be dated < 30/60 days
  8. Accounts Payable and Accounts Receivable aging to reconcile with the interim financial statement
  9. Business debt schedule
  10. Previous Government Financing – Please provide any government financing provided to the business including debt that has been paid off and/or forgiven (this includes PPP Loans) –
  11. Projections, please include supporting assumptions
  12. 2 years Tax Returns for any Affiliated Businesses
  13. Signed Purchased Agreement for the buildings
  14. Lease Agreement, if operating company and real estate holding company are not the same
  15. Cost Estimates for Improvements (Estimates need to be on contractor’s letterhead) IF ANY
  16. List of furniture, machinery, and equipment to be acquired with loan proceeds. IF ANY
  17. Number of current employees and Number of employees to be hired with this project
Please note this list is not all inclusive and review of these items may require additional items. For more information, please contact our office at 563-556-4166 or contact mspecht@ecia.org.
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