ROBERT L. EHRLICH, JR., Governor                             Ch. 434

(d) The application shall include:

(1)     A detailed business plan, including:

(i) An itemization of known and estimated costs;

(ii) The total amount of investment required; and

(iii) The amount of financial assistance requested from the
Department;

(2)     The amount of funds available to the applicant without financial
assistance from the Department;

(3)     Information relating to the financial status of the applicant,
including:

(i) A current balance sheet;

(ii) A profit and loss statement;

(iii) Credit references; and

(iv) Evidence that the applicant and the owners are financially
responsible, including:

1.       A statement or evidence that neither the applicant nor any
of its owners currently owes any State or federal taxes that were not paid when due;
or

2.       If the applicant or any of its owners currently owe any
State or federal taxes that were not paid when due, evidence that the taxpayer:

A.      Will have paid the taxes in full before the anticipated time
of closing for any financial assistance to be provided under this subtitle;

B.      Is in compliance with a repayment schedule approved by
the taxing authority; or

C.      Is disputing the taxes in good faith and through
appropriate channels;

(4)     Information showing the financial status of each owner of the
applicant, including:

(i) A current balance sheet;

(ii) An income statement; and

(iii) Credit references;

(5)     Evidence that:

(I) [the] THE applicant has made reasonable efforts to obtain
financial assistance on reasonable terms from other sources; OR

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