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' 43 <br />LOAN ANALYSIS <br />The Loan Committee shall review and consider a number of items <br />in determining whether a loan should be made. Those items shall <br />include at least the following: <br />1. Business plan. <br />2. Employment plan (including projected need for employees; <br />skill levels and education required; employee compensation, <br />health insurance, and other benefits). <br />3. Business financial statements. (3 years plus interim) <br />4. Tax returns. (personal and business - 3 years) <br />5. Pro formers to determine if there will be sufficient cash <br />flow to meet obligations for 2 years. <br />6. Personal financial statements, <br />7. Information regarding collateral and a current credit <br />report. <br />8. Other available financing including, but not limited to, <br />whether other financial institutions have agreed to <br />consider traditional debt financing and under what <br />circumstances. <br />9. ~ Any_ other ~.n.formation that the Loan Committee <br />determines that it needs a~~iEn r- <br />gr~~~r~g-end-_._l i _g t'~e~3~-e~ti~r~~l~-~~ey-r-a~ <br />~ee~ed. . <br />SUGGESTED LOAN GUIDELINES <br />7.. Creditworthiness - Although applicants will be considered <br />with credit ratings showing a history of accounts up to 30 <br />days past due, preference will be given to borrowers with <br />good credit ratings. Applicants with bankruptcy or prior to <br />prepossessions listed on their credit report will, in most <br />cases, be considered too great a credit risk for this <br />program. <br />2. Cash Flow Coverage - The loan program is targeted to <br />applicants with a cash flow coverage, prior to loan <br />6 <br />