To apply for a small business economic development loan, an applicant shall file with the department

1. (1) a completed application for a small business economic development loan, on a form provided by the department;
2. (2) a letter of intent stating the amount of the loan and intended use of the money, on a form provided by the department;
3. (3) an individual financial statement from each individual applicant, including each member of a partnership or other association, or, if the applicant is a corporation, each individual owning 20 percent or more of any outstanding shares, on a form provided by the department;
4. (4) a business financial statement, on a form provided by the department;
5. (5) an actual statement of profit and loss, on a form provided by the department;
6. (6) a project statement of profit and loss, on a form provided by the department;
7. (7) a personal resume, on a form provided by the department;
8. (8) a business resume, on a form provided by the department;
9. (9) credit authorizations for at least three of the applicant's creditors, on forms provided by the department;
10. (10) authorizations to verify financial information, on forms provided by the department;
11. (11) an earnest money agreement, explaining all terms and conditions of the transaction, with original signatures by all parties;
12. (12) signed copies of the applicant's federal income tax returns for the preceding three years, including returns for each member of a partnership or other association; and
13. (13) any other information requested by the department to document eligibility.

(Eff. 1/12/89, Register 109)

Authority: AS 44.88.080, AS 44.88.085, AS 44.88.420