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How to Use the Agribusiness Guarantee
These are the steps to follow if you are a business owner or potential
business owner seeking financing:
- Develop a Business Plan.
- Provides a blueprint for your business operation.
- Details how you plan to accomplish your goals.
- Make an appointment with an Agribusiness
Guarantee Lender.
- Complete the Loan Guarantee Application jointly with your lender.
- Additional documentation your lender will need to complete the
application package:
- personal financial statements from all individuals with a
20% or greater ownership interest in the business (the statement(s)
must be completed, signed and dated within 90-days of the application
date);
- resumes of all owners and other key management personnel;
- project documentation; i.e., Offer-to-Purchase, bids or cost
estimates, business purchase agreement;
- (For an Existing Business) the last three years' audited
or reviewed financial statements or Federal tax returns and all supporting
schedules of the business;
- (For an Existing Business) interim financial statements (Balance
Sheet and Income Statement) dated within 90-days of the application.
- Have your lender send the application package to WHEDA for review.
- You can expect to receive a decision within 3 - 10 business
days.
- Close your loan.
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