TITLE 14: COMMERCE
SUBTITLE C: ECONOMIC DEVELOPMENT
CHAPTER I: DEPARTMENT OF COMMERCE AND COMMUNITY AFFAIRS
PART 600 ILLINOIS EQUITY INVESTMENT FUND
SECTION 600.25 APPLICATION DOCUMENTATION
Section 600.25 Application Documentation
The application must include documentation of the following:
a) History of the Company – a brief history of the business and past employment growth.
b) Market Information – information on the company's products or services and identification of existing and potential major customers and competitors.
c) Corporate Financial Statements – historical corporate financial statements for the past three years and interim statements dated no more than ninety days prior to application including:
1) Profit and Loss Statements;
2) Balance Sheets;
3) Cash Flow Statements; and
4) Disclosure of Contingent Liabilities.
d) Three Year Projections – three year projections of the Profit and Loss Statement and Balance Sheet and a one year Monthly Cash Flow Projection.
e) Site Map – an outline of the general location of the project on a site map, reflecting the location of any floodplain areas.
f) Land and Building Information (if applicable) – for land and/or building acquisition, an MAI appraisal and a copy of the purchase option or agreement; for building construction or renovation, a contractor or architect's cost estimates.
g) Description of Machinery and Equipment (if applicable) – identification of major equipment or classes of equipment to be acquired with the Department's program funds; for acquisition of new machinery and equipment, attachment of reliable vendor cost estimates; for moving and installation costs, attachment of written estimates; for used machinery and equipment acquisition, an appraisal demonstrating that the fair market value is in line with the purchase price.
h) Description of Working Capital (if applicable) – a detailed explanation of the need for an use of the funds.
i) Company Management – a listing of those people that are responsible for the management of the company, their positions, and percentages of ownership.
j) Personal Resume(s) – a resume for senior staff at the proposed project site.
k) Personal Financial Statement – a personal financial statement(s) for each principal owning more than 20 percent of the company.
l) Letters of Commitment – commitment letters documenting all sources of leveraging; loans from financial institutions must have language indicating the loan amount, the specified term and interest, collateral, conditions attendant to the loan, and the fact that the loan is approved; any commitment to purchase a revenue bond must have an executed inducement resolution and the rates, terms, and conditions of approval by the buyer.