Section 457-101-3 - ApplicationA.Procedures(1) A Lender shall submit an application which complies with the requirements of this Rule on such forms and in such numbers as may be specified with such supporting information as shall be required by this Rule and the Credit Policy and such additional information as may be requested by the chief executive officer or the members.(2) The chief executive officer shall be responsible for making application forms available and assisting lenders in preparing applications.(3) No application will be considered complete unless substantially all questions are answered, and substantially all supporting information is provided.B.Contents. Unless waived by the chief executive officer or the members, the Lender shall submit to the Authority a fully completed Loan Insurance application in a form and with such information prescribed by the chief executive officer or the members, which may require, without limitation, the following: (1) Identification of the proposed amount of the loan, the proposed percentage of insurance, the purpose, terms and conditions of the loan and a description of the collateral.(2) Copies of all conditional letters of commitment to the borrower from the lender and any other sources of financing.(3) A written statement of the material benefit the proposed insurance will provide to the Borrower.(4) Historical business financial statements, including income tax returns, income statements and balance sheets, as applicable.(5) Personal financial statements and tax returns for all partners, owners, officers and guarantors, as applicable.(6) Pro forma financial statements for at least a three-year period, including an income statement, balance sheet and cash flow projections.(7) The Lender's loan analysis.(8) A statement of the number of jobs proposed to be retained and new jobs created by the project. In the event that the borrower will have ten or more employees as of the date the loan is to be made, the application must include an employment plan, on a form to be provided by the chief executive officer.(9) Appraisal of collateral.(10) Business credit history reports.(11) A description of the public benefit that is expected as a result of the project.(12) Any other information or certifications from the borrower or the lender deemed by the chief executive officer or the members to be necessary or desirable in connection with the application94- 457 C.M.R. ch. 101, § 3