Hardware Retailing

APR 2011

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

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"BANK DAY" CHECKLIST We compiled some of the top statements, records and questions you'll want to be familiar with and bring on the day you meet with your lender. While each bank will q Business Statements Including: t &YFDVUJWF 4VNNBSZ #VTJOFTT 1SPGJMF .BOBHFNFOU &YQFSJFODF 3FTVNFT -PBO 3FRVFTU -PBO 3FQBZNFOU 1MBO $PMMBUFSBM 4VDDFTTJPO &YJU 1MBO q Business Projections for One to Three Years q Income Tax Returns for the Past Three Years q Industry Stats from NRHA's Cost of Doing Business Study q Anecdotal Evidence from Retail Peers q Credit History Including Personal and Business q Accountant-Compiled Report or Financial Statements t #BMBODF 4IFFU *ODPNF 4UBUFNFOU $BTI 'MPX "DDPVOUT 3FDFJWBCMF BOE "DDPVOUT 1BZBCMF q Legal Documents if Applicable Including: t #VTJOFTT MJDFOTFT BOE SFHJTUSBUJPOT SFRVJSFE UP DPOEVDU CVTJOFTT "SUJDMFT PG *ODPSQPSBUJPO t $PQJFT PG DPOUSBDUT ZPV IBWF XJUI BOZ UIJSE QBSUJFT 'SBODIJTF BHSFFNFOUT $PNNFSDJBM MFBTFT q Other Items to Think About: t 1VSDIBTF BHSFFNFOUT t 1MBOT TQFDJGJDBUJPOT t -FUUFST PG SFGFSFODF -FUUFST PG JOUFOU t $POUSBDUT t 1BSUOFSTIJQ BHSFFNFOUT require different sets of information, below are some general documents and ideas you'll want to be prepared to display on the day of your presentation. q Be Prepared to Answer the Following Questions: t 8IZ BSF ZPV BQQMZJOH GPS UIJT MPBO t )PX XJMM UIF MPBO QSPDFFET CF VTFE t 8IBU BTTFUT OFFE UP CF QVSDIBTFE BOE XIP BSF ZPVS TVQQMJFST t 8IBU PUIFS CVTJOFTT EFCU EP ZPV IBWF BOE XIP BSF ZPVS DSFEJUPST t $BO UIF CVTJOFTT SFQBZ UIF MPBO *T DBTI GMPX HSFBUFS UIBO EFCU TFSWJDF t $BO ZPV SFQBZ UIF MPBO JG UIF CVTJOFTT GBJMT *T DPMMBUFSBM TVGGJDJFOU UP SFQBZ UIF MPBO t %PFT UIF CVTJOFTT DPMMFDU JUT CJMMT t %PFT UIF CVTJOFTT QBZ JUT CJMMT t %PFT UIF CVTJOFTT DPOUSPM JUT JOWFOUPSZ t %PFT UIF CVTJOFTT DPOUSPM FYQFOTFT t "SF UIF PGGJDFST DPNNJUUFE UP UIF CVTJOFTT t %PFT UIF CVTJOFTT IBWF B QSPGJUBCMF PQFSBUJOH IJTUPSZ t %PFT UIF CVTJOFTT NBUDI JUT TPVSDFT BOE VTFT PG GVOET t "SF TBMFT HSPXJOH t "SF QSPGJUT JODSFBTJOH BT B QFSDFOUBHF PG TBMFT t *T UIFSF BOZ EJTDSFUJPOBSZ DBTI GMPX t 8IBU JT UIF GVUVSF PG UIF JOEVTUSZ t 8IP JT ZPVS DPNQFUJUJPO BOE XIBU BSF UIFJS TUSFOHUIT BOE XFBLOFTTFT 4PVSDF GPS 2VFTUJPOT 4#" HPW 36 Hardware Retailing www.nrha.org April 2011 FINANCIALSTRATEGIES

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