Small Business Start-Up Kit | Page 15

Financial Information • Programs are also available for special loans or grants to women, minorities and veterans. Often your lending institution can assist with providing detailed information. The Tomah Chamber also has partners throughout the state that can provide financial and resource assistance to these groups. All loan programs require that certain standards be met. A loan applicant must be of good character, show the ability to operate a small business successfully, and have a good reasonable amount of his/ her own resources to invest to withstand possible losses. In addition, the following will likely be required: Credit Report Collateral adequate to secure the debt; list of collateral and its value Appraisals required on real property used as collateral Personal guarantees required of those persons (or companies) with 20% ownership Secondary collateral may be required Personal financial statements & financial statements of business (if applicable) Personal and/or business tax returns for last three years Business Plan “ I am writing this letter as a personal reference for the Greater Tomah Area Chamber of Commerce. Over six months ago, B&B Electric Inc. started a location in Tomah, WI. We had spoken to the Chamber before our move and were very impressed with their hands on approach in helping new businesses in the area, so we immediately joined the Chamber. The Chamber has been a great place for us to connect with other businesses and community members. For any new business to the area this is your opportunity to get your name out there. Being involved with a Chamber can be an intimidating aspect to joining. Specifically, Tina and her staff do an excellent job of welcoming new members to the Chamber and giving you the opportunity to get involved at the time of joining, as if you have always been a member. ” We would like to thank the, Greater Tomah Area Chamber of Commerce, Tina and her staff. - Ben Trachsel, Sales & Marketing, B&B Electric Inc. Greater Area Tomah Chamber of Commerce Page |15