Purchase Checklist - Auto Repair Shop Loans
Transaction Summary
- PetroMAC loan questionnaire (attached)
- Purchase Agreement
- Interior and Exterior Color Photos of Property
- Copy of Recent Appraisal, Environmental Report and Survey (if available)
- Corporate Documents (If created)
Borrower / Buyer Information
- Personal Financial Statement (Attached)
- Last Three Years Personal Tax Returns FULL COPY (for all who own 20% or greater)
- Last Three Years Business Returns FULL COPY (If you currently own other affiliates)
- Last Three Months bank statements (or source of equity infusion)
- Copy of drivers license / social security card and green card front and back (if applicable)
Seller Information
- Last Three Years Corporate Returns FULL COPY
- Last Three Years Profit / Loss Statements
- Year To Date Profit / Loss Statement w/Balance Sheet
- Copy of the franchise agreement
- Last quality inspection report
- Newly Issued Property Improvement Plan (PIP) report
- Monthly STAR reports as of the prior month and December of the past 2 years
- Managers statistics report from the franchise management system as of prior day and as of December 31st of the past two years
- Customer segmentation: percentage of occupancy for the transient, freeway, business, contracts and others
- Copy of any business contracts
- Capital Expenditure (Major items and the corresponding costs) for the past two years