1. Will you need a loan to start or expand the center? If so, approximately how much? R: I might need a loan about $80,000.00 to start-up my new child-care.
2. What will the loan be used for? R: The loan will be used to purchase equipment and child development materials, facility improvements and repairs.
3. What sources will you use to obtain the loan? (Bank, credit union, state, city, etc.) R: I will get the loan from the First Children’s Finance that gives the low-interest loan to child care business, Office of Child Care, or bank.
4. What is (are) the item(s) to be purchased and at what cost(s)? …show more content…
Do you own any assets or items of value? If so, what? R: I only have my personal saving.
9. Would you be willing to use your personal assets as collateral against a loan to provide your center with a stable equity base? R: Yes, I would be willing to use my personal assets as a collateral against a loan.
10. Have you prepared a projected profit and loss statement showing the potential revenues versus expenses of your center during your first three years of operation? R: Not yet
11. Will you need assistance in preparing such statements? R: Yes, I might need assistance to do it.
12. Can you provide personal tax returns for the past three years? R: Yes, I have them.
13. How will a loan make your business more profitable? R: Having enough money to develop the program to meet the parents’ needs as well their children can allow you to have more children in the center. More children mean more profits. Starting with a solid financial plan that includes planned budget can help someone in so many ways to be
2. What will the loan be used for? R: The loan will be used to purchase equipment and child development materials, facility improvements and repairs.
3. What sources will you use to obtain the loan? (Bank, credit union, state, city, etc.) R: I will get the loan from the First Children’s Finance that gives the low-interest loan to child care business, Office of Child Care, or bank.
4. What is (are) the item(s) to be purchased and at what cost(s)? …show more content…
Do you own any assets or items of value? If so, what? R: I only have my personal saving.
9. Would you be willing to use your personal assets as collateral against a loan to provide your center with a stable equity base? R: Yes, I would be willing to use my personal assets as a collateral against a loan.
10. Have you prepared a projected profit and loss statement showing the potential revenues versus expenses of your center during your first three years of operation? R: Not yet
11. Will you need assistance in preparing such statements? R: Yes, I might need assistance to do it.
12. Can you provide personal tax returns for the past three years? R: Yes, I have them.
13. How will a loan make your business more profitable? R: Having enough money to develop the program to meet the parents’ needs as well their children can allow you to have more children in the center. More children mean more profits. Starting with a solid financial plan that includes planned budget can help someone in so many ways to be