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Financial AssistanceSTLP Checklist
STLP Checklist for new participants
1. _____ Completed
DOT OSDBU STLP application signed and dated.
2._____ Financial
Records for business:
_____Three
years of business financial statements
Note: Business
financial statements should be prepared by an independent CPA firm and to
include the accountant's cover letter, balance sheet, operating statement, any
additional statements and schedules, and any accompanying notes. If the latest
financial statements are more than 90 days old, interim financial statements
are to be furnished which may be management prepared.
_____Three
years of business federal tax returns
3._____ Financial Records personal: (for each proposed
guarantor and individual owning 20% or more of the company)
_____Current
personal financial statement (dated and signed)
_____Three
years of personal income tax returns
4._____ Current Work in Progress (WIP) Schedule or statement
to include all jobs currently under contract. (Contract owner, project name,
contract amount, start date, percentage completed and billed amounts, collected
amounts, and estimated completion date should be included)
5._____ Current Aging Reports of both Receivables and Payables
(should be 90 days current)
6._____ Cash Flow Projection covering the term of the loan
must be submitted. This report should show, on a monthly basis, total revenues
from both transportation and non-transportation related contracts in progress,
the associated cost of goods and services, general and administrative operating
costs, net monthly cash flow, and anticipated
advances and repayment on the proposed line of credit.
7._____ Current
DBE Certification and/or other eligible SBA certification (8a, HUBZone,
SDB, DSV). This is to include updated an annual affidavit as part of the
certification requirements and evidenced of acceptance by the DOT by your home
state or your Business Opportunity Specialist (BOS) if it is a SBA
certification.
8._____ Business
formation documents (Articles of Incorporation, or Partnership Agreement,
or Articles of Organization) and evidence of proper business registration.
9._____ Company
history and a statement of the expected benefits of the loan.
10._____ List
of completed contracts during the past 12 month period.
11._____ 2 Reference
letters relating to the applicant's contract performance and one other
reference letter relating to either financial or professional performance.
These letters should be dated within the past six months of the date of
application.
12._____ Resume
of key management
13._____ Complete copy of all transportation-related contracts, subcontracts, and/or purchase
orders that will be assigned to the proposed loan.
14_____ Bonding information, if applicable
15._____ If any of the
principal owners of the applicant business also own a majority interest in
other business concern, he/she must submit the past three fiscal years of
financial statements and/or federal tax returns for the each affiliated
business.
16._____ Taxes (Federal,
State, and Local) have been paid. If not then you must show evidence that
you have a payment plan in place and further evidence that you are paying it.
