Section 001-31-C - Loan Application Contents1.Required Contents. In addition to the technical information referenced above, applications shall contain the following: (a) Identification of the proposed amount of the loan, repayment term, and description of the collateral;(b) If applicable, copies of letters of commitment to the borrower from other sources of financing;(c) Information detailing exact uses of loan proceeds from all sources;(d) Historical business financial statements for the previous three years, both personal and corporate, if applicable, including balance sheets and profit and loss statements. Income tax returns may be substituted for profit and loss statements. The balance sheet must list current balances, rates, payments, maturities and security of all business debts;(e) Pro forma profit and loss statement for the first year after project loan closing;(f) Production history for the previous three years and marketing plan for the year in which application is made;(g) Preliminary plans and specifications, including proposed floor plan, and estimates of project costs from contractors and suppliers.2.Supplemental information. The Commissioner may require appraisals of collateral, credit reports, copies of leases or purchase agreements, or any other information or certifications from the borrower or other lender deemed to be necessary for thorough review of the application.01-001 C.M.R. ch. 31, § C