Applications shall be on a form prescribed by the Assistant Secretary which shall at the minimum include:

1. (a) Total capital requirement, including operating capital required until such time as the cash generated from operations will be sufficient to make the enterprise self-sustaining.
2. (b) Amount of total financing required as well as what is obtainable from other sources, including the applicant's personal resources, and a statement of terms and conditions under which any borrowed portion is obtainable.
3. (c) Capital deficiency, which will be the basis for the amount of grant requested.
4. (d) Pro forma balance sheets and operating statements showing estimated expenses, income and net profit from operations for three years following receipt of the requested grant.
5. (e) Annual operating statements and balance sheets, audited if available, for the prior two years or applicable years for enterprises already in operation.
6. (f) Current financial statements, consisting of a balance sheet and operating statement.
7. (g) A plan of operation which shall be acceptable to the lender making the loan and the Assistant Secretary.