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