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Business Analyzer and Underwriter’s Report

Thank you for choosing Cash Flow Specialists, Incorporated,  to assist you in the structuring and placement of your Company’s senior secured financing.  We have prepared a listing of the items and questions which we require to complete our analysis.

  1. DESCRIPTION – Please describe your loan request as simply as possible:

    • Amount of funding sought.   _________________________________________

    • Proposed uses of funding.  (Debt retirement, operating capital, new equipment, etc.)

    • _______________________________________________________________
    • Timing expectations for the new loan.  _________________________________

    • What other sources of financing have been sought? What were the reasons for decline? Please attach any term sheets or proposal received.


    B. REQUEST LIST – Our analysts require copies of the following books and records:
    • Account/Receivable Agings,-Current period

    • Account/Payables Agings -Current period

    • Accountant prepared financial statements for the most recent FYE (fiscal year ended) plus the prior two years and monthly or quarterly for the last year (can be management compilations)

    • Current and prior year’s internally prepared YTD (year to date) interim financial statements. (can be management compilations)

    • Excel projections for the next 12 months plus the next two years

    • Personal financials of shareholders holding 10% or more.

    • Loan documents for any company loan outstanding.

    • Completed questionnaire

PLEASE UPLOAD YOUR DOCUMENTS TO THE CLIENT PORTAL

IN THE FOLLOWING FORMATS:

MICROSOFT WORD & EXCEL (2003), PDF, TEXT FILE, OR LOTUS

QUESTIONNAIRE

Please answer the following questions to help complete our report:

    I. General Information
    1. Borrowers full complete and correct legal name
    • ___________________________________________________________________
    • B. Place of Business
    • Principal location
    • _________________________________________________________________
    • _____________________________________________________________
    • _____________________________________________________________
    • All other locations where assets of Company are presently in existence (including locations where assets are in control of third parties, i.e., warehouses).
    • _________________________________________________________________
    • _____________________________________________________________
    • _____________________________________________________________
    • C. Officers Name Years Employed
    Chairman  __________________________________________________
    President  __________________________________________________
    Vice President ______________________________________________________
    Secretary  __________________________________________________
    Treasurer           __________________________________________________
    Controller  __________________________________________________
    • Bookkeeper         __________________________________________________
    1. Shareholders over 10%:
    • Name % Owned
    • _________________________   ______________________________________
    • _________________________   ______________________________________
    • _________________________   ______________________________________
    • _________________________   ______________________________________
    1. General Company Information

    • Manufacturer/Wholesaler/Service/Other
    • Products Handled________________________________
    • Geographic Marketing Area

    • Customer Base _________________________________

    • Date/State of Incorporation_________________________

    • State where qualified to conduct business

    • Closely Held  , Sub chapter “s”  , Public 

    • Trade Names: _________________________________________________

    • List patents, trademarks, royalty agreements and copyrights
    • (that may be used for collateral)
    • ______________________________________________________________
    • ______________________________________________________________
    • ______________________________________________________________
    • ______________________________________________________________
    • Are Financial Statements Audited (____), Reviewed (____) or Compilations (____)? Explain if qualified _______________________________________
    • _____________________________________________________________
    • Number of Employees          ______________________________________

    • Is there a union contract?  If so, expiration?   .

    • Is any litigation outstanding, pending, or threatened against the Company or any of its principals?

    • List any background issues that may be discovered during lender due diligence

    • Describe any other information that may potentially impede a financing from occurring and not mentioned anywhere else.
    1. Name the top three competitors and relative mark share:

    • Name % of Market Share
    • _______________________   _______________________________________
    • _______________________   _______________________________________
    • _______________________   _______________________________________

II. Accounts Receivable

    • A. General Information
    • Is the aging aged by invoice date or due date?

    • Selling Terms:

    • Any dating/special terms?

    • Any consignment sales?

    • Does the Company(s) drop-ship product?  Percentage  %.

    • Do customers pre-pay or make deposit payments?  If so, explain how they are booked.

    • Are there progress billings, retainages?

    • Are there sales to the U.S. Government?  . Total annual sales $ as a % of total sales  %.

    • Are there cash sales?  .  Total annual cash sales $ , as a % of total sales

    • Are there foreign accounts? % of Receivables _____________

    • Are signed purchase orders or contracts obtained?    _____________

    • Does Company(s) have credit insurance? Please Describe:  ________________

    • __________________________________________________________________
    • List all customers that the Company(s) also buys or obtains services from.    What Countries?

    Debtor       A/R Balance
    __________________________         __________________________________                                                       __________________________         __________________________________                                                                                                        __________________________         __________________________________
    __________________________         __________________________________                                                                                                           __________________________         __________________________________
    • What is the Company(s) historical dilution rate (credit memos issued divided by sales) for the YTD period and last FYE?

    • Does the Company(s) offer any limitations on returns or allowances including any contracts in regards to right of return caps?

    • Provide the top three customers (name and address) and percentage of sales:

    Customer (Name & Address)   Percentage of sales
    _____ ________________________
    _____
    _____
    • Please attach a customer master listing including names and addresses


III. Inventory

    1. Method of Valuation:  FIFO, LIFO, Average, Other   ______________________

    1. Method of Reporting:  Perpetual, Physical, G/P%, Other  ___________________

    1. Location(s):

    • 1. _______________________  $ ___________________________________
    • 2. _______________________  $ ___________________________________
    • 3. _______________________  $ ___________________________________
    1. Does Company(s) have consigned (vendor) inventory?  ____________________
    • _________________________________________________________________
    • If yes, is it segregated?  _________________________________________________
    1. Does Company(s) have customer inventory? _____________________________
    • _________________________________________________________________
    • If yes, is it segregated?  ______________________________________________
    1. Describe (include amounts):

    • Raw Materials $___________:  ______________________________________
    • __________________________________________________________________
    • __________________________________________________________________
    • __________________________________________________________________
    • Work-in-Process $___________:  ____________________________________
    • ________________________________________________________________
    • __________________________________________________________________
    • Finished Goods $___________:  _____________________________________
    • ________________________________________________________________
    • __________________________________________________________________
    • Other  $___________:  ________________________________________
    • ________________________________________________________________
    • __________________________________________________________________
    1. Has inventory been appraised?  _________________
    • Appraisal Value  _____________________________________
    • Appraisal:  Date _______________ Appraiser _________________
    • Type:  Fair Market Value (         )
    • Orderly Liquidation Value  (        )
    • Forced Sale Liquidation Value   (        )
    • Other(Specify): (                                  )
    1. Are there reserves booked against inventory?  _________ If yes, provide details.
    • __________________________________________________________________
    • __________________________________________________________________
    1. Are pre-sold finished goods separated from stock finished goods?  What percentage of finished goods are made to stock?
    • ___________________________________________________________________

IV. Machinery & Equipment

    1. General
    2. Description: _________________________________________________
    3. Appraisal Value, if any?________________________________________

    • Appraisal:  Date _______________   Appraiser _________________
    • Type:   ______________________
    • Fair Market Value (         )
    • Orderly Liquidation Value  (        )
    • Forced Sale Liquidation Value   (        )
    • Other (Specify): (                                  )

V. Real Estate

    1. Description: ____________________________________________________
    • ______________________________________________________________
    1. Appraisal Value, if any?_____________________________________

    • Appraisal:  Date _______________ Appraiser _________________
    • Type:  ______________________
    • Fair Market Value (         )
    • Orderly Liquidation Value  (        )
    • Forced Sale Liquidation Value   (        )
    • Other (Specify): (                                  )

VI. Accounts Payable

    1. General

    1. Approximate Number of Vendors: _____________________________

    1. Number with Open Balances?  ________________________________


VII. Other Debt – Please fill out the following debt schedule, include secured and unsecured debt:

Holder Security Total Monthly Pmts Current Portion Date Due

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