Tootsie Roll Paper

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Running head: TOOTSIE ROLL INDUSTRIES INC. LOAN PACKAGE 1 Tootsie Roll Industries Inc. Loan Package TOOTSIE ROLL INDUSTRIES INC. LOAN PACKAGE Tootsie Roll Industries Inc. Loan Package The financial statement of Tootsie Roll Industries provides insightful details into the 2 financial activities of the decades old organization. A financial statement is the “summary report that shows how a firm has used the funds entrusted to it by its stockholders and lenders, and what is its current financial position” ("Financial statement," 2012). The company is known for products such as Tootsie Rolls, Tootsie Roll Pops, Caramel Apple Pops, Child’s Play, Charms, Blow Pop, Blue Razz, Cella’s chocolate covered cherries, Mason Dots,…show more content…
LOAN PACKAGE Collateral - Schedule A, Form 413: Personal Financial Statement, Form 912: Statement of 3 Personal History, Form 1624: Certification Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion Lower Tier Covered Transactions, and Form 1846: Statement Regarding Lobbying (U.S. Small Business Association, n.d.). Lenders and borrowers must work together in order to apply for the most applicable loan to the business. According to U.S. Small Business Association (n.d.), “Borrowers should provide complete financial statements for the last three years including balance sheets, income statements, and a reconciliation of net worth as well as a current (no more than 90 days old) interim financial statement” (Business Financial Statements). The borrower must also provide projections to the creditor. The projections predict a year out or the positive flow of cash, which includes earnings, expenses, and the reasons behind the projections (U.S. Small Business Association, n.d.). The borrow should include documentation to assist in the predications such as contracts of lease proposals, franchise agreements, purchase agreements, articles of incorporation, plans, specifications, copies of licenses, letters of reference, letters of intent, and contracts partnership agreement (U.S. Small Business Association, n.d.). If the borrower does not provide the proper
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