This section provides a summary of what your business sells and the ownership structure.
Describe your business in one or two sentences. Be as detailed as possible. For example a restaurant may describe themselves “We are an Italian restaurant located at Main and 1st Street specializing in lunch and after work meals to the upper class business clientele”. Internet companies may use their description listed on search engines. Be careful to avoid jargon or industry specific words.
Give a brief description of the company’s history. Explain the major events that lead up to this point. List the key success factors and your niche within the industry. This section should not exceed ˝ page. For start-up companies list the reasons why you are starting this business.
Location and Facilities
Provide your address. Describe details about your facility such as lease expiry date, if your lease is renewable, square footage and price. Describe any environmental concerns related to your location. If you own the property describe the value and annual costs.
Legal form of your company
Sole proprietorship, partnership or corporation. If your business is a corporation in the USA be sure to describe they type of corporation such as “C” (standard) or “S” (common for small businesses with limited shareholders).
List all shareholders including percent ownership. Give a brief description their position at the company or their area of expertise. Note shareholders that are not involved in the day-to-day operation of the business as they may be required to seek independent legal advise prior to signing a personal guarantee for a Bank loan.
If you are a public company describe key shareholders.
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