1. A. The summary application must contain but not be limited to:

   1. 1. applicant information:

      1. a. venture capital fund name;
      2. b. address;
      3. c. LEDEC certification number;
      4. d. telephone number;

   2. 2. project firm information:

      1. a. name of business;
      2. b. address (postal and physical);
      3. c. phone number;
      4. d. year established;
      5. e. state chartered in;
      6. f. legal structure of business;
      7. g. IRS tax number;
      8. h. product or service;
      9. i. headquarters location;
      10. j. location of all production and research and development facilities;
      11. k. list any pending litigation;
      12. l. list any bankruptcy or insolvency filings;

   3. 3. owner/manager information:

      1. a. name;
      2. b. address;
      3. c. title;
      4. d. Social Security number;
      5. e. percent of ownership;
      6. f. annual compensation;
      7. g. list any pending litigation;
      8. h. list any bankruptcy or insolvency filings;

   4. 4. use of funds:

      1. a. purpose;
      2. b. amount;

   5. 5. securities given in exchange for investment:

      1. a. list types of securities to be issued in this round of financing to all investors with any terms and/or conditions attached thereto;

   6. 6. equity information:

      1. a. list all equity investors with numbers of shares owned, type of shares owned, dollar value of investment and date of investment;
      2. b. total shares authorized by class;
      3. c. total shares outstanding by class.

2. B. A business plan that contains but is not limited to:

   1. 1. business goals and earnings projections and potential return to investors;

   2. 2. market analysis:

      1. a. description of total market;
      2. b. industry trends;
      3. c. target market;
      4. d. competition;

   3. 3. products or services:

      1. a. description of product line;
      2. b. proprietary position: patents, copyrights and legal and technical considerations and ownership of same;
      3. c. comparison to competitors' products;

   4. 4. manufacturing process (if applicable):

      1. a. materials;
      2. b. sources of supply;
      3. c. production methods;

   5. 5. marketing strategy:

      1. a. overall strategy;
      2. b. pricing policy;
      3. c. sales terms;
      4. d. method of selling, distributing and servicing products;

   6. 6. management plan:

      1. a. form of business organization;
      2. b. board of directors composition;
      3. c. officers: organization chart and responsibilities;
      4. d. résumés of key personnel;
      5. e. staffing plan/number of employees;
      6. f. facilities plan/planned capital improvements;
      7. g. operating plan/schedule of upcoming work for next one to two years;

   7. 7. financial data (for existing firms):

      1. a. financial history (five years to present);*

      2. b. three-year financial projections (first year by quarters; remaining years annually):

         1. i. profit and loss statements;
         2. ii. balance sheets;
         3. iii. cash flow chart;
         4. iv. capital expenditure estimates;
      3. c. explanation of projections;
      4. d. key business ratios;
      5. e. explanation of use and effect of new funds;
      6. f. potential return to investors compared to competitors and industry in general;*

   8. 8. financial data for startup firms:

      1. a. three-year financial projections (first year by quarters; remaining years annually):

         1. i. profit and loss statements;
         2. ii. balance sheets;
         3. iii. cash flow chart;
         4. iv. capital expenditure estimates;
      2. b. explanation of projections;
      3. c. key business ratios;
      4. d. explanation of use and effect of new funds;
      5. e. potential return to investors compared to competitors and industry in general;*

   9. 9. schedule of debt:

      1. a. to whom;
      2. b. date opened;
      3. c. original balance;
      4. d. present balance;
      5. e. payment schedule;
      6. f. date of maturity;
      7. g. rate;
      8. h. collateral;
      9. i. terms of convertibility;
      10. j. list all liens against the project firm and related firms;

   10. 10. list of trade creditors/suppliers:

       1. a. creditor name;
       2. b. address;
       3. c. date opened;
       4. d. high credit;
       5. e. balance;
       6. f. terms;

   11. 11. collateral offered:

       1. a. type and description;

       2. b. present market value:

          1. i. appraisals no more than 90 days old at time of application;
       3. c. present balance owed;
       4. d. total value of collateral;

       5. e. source of repayment:

          1. i. primary source;
          2. ii. secondary source;

       6. f. federal and state tax status:

          1. i. date of current tax status;
          2. ii. date of last audit;
          3. iii. deficiencies assessed/proposed.

*All financial statements must meet Generally Accepted Accounting Practices (GAAP).

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 51:2331.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Economic Development, Economic Development Corporation, LR 15:461 (June 1989).