ARM 4.16.302. APPLICATION PROCEDURES FOR A SEED CAPITAL PROJECT LOAN - SUBMISSION OF BUSINESS PLAN

(1) When the executive summary is deemed complete and the seed capital project deemed appropriate for further consideration, the applicant must submit a business plan to the council. (2) This plan must contain the following items: (a) the executive summary; (b) the company's history and business development objectives; (c) the product and technology description; (d) the market size and characteristics assessment; (e) the sales and marketing strategy; (f) a description and assessment of the competition; (g) the financial projections, including income statements, balance sheets, and cash flow projections for five years; (h) the historical financial statements of the company including balance sheets and income statements for the three previous years or as many as are available; (i) a description of the management team, including a detailed resume for each member; (j) a manufacturing and operations plan; (k) the ownership structure; and (l) an organization and personnel plan. (3) If deemed necessary, personal financial data may be requested. (4) A cover letter must also accompany the business plan and include a description of other capital or matching fund efforts. The cover letter must also contain the names of up to three individuals who could provide the council with a threshold review of the products, technology, process and market potential of the company if such a review is deemed necessary by the council.