Tootsie Roll Industries Inc. Loan Package
Read the financial statement for Tootsie Roll Industries Inc. in Appendix A of Accounting.
Conduct an Internet search information on how to assemble a loan package by researching loan package requirements at The U.S. Small Business Administration website (http://www.sba.gov/) or on other websites, such as the SCORE website (http://www.score.org/). Research the specific loan package requirements of creditors, such as American Express, by reviewing their websites.
Prepare a loan package of no more than 1,250 words to secure a loan for Tootsie Roll Industries Inc. that would increase the company’s total liabilities by 10%. Your loan package should include the following:
· A ratio analysis of the financial statements for Tootsie Roll Industries Inc., including several types of liquidity, solvency, and profitability ratios and an explanation of each ratio. Please use the EFW Spreadsheet provided in the Course Materials to calculate your ratios. Please submit a copy of the EFW Spreadsheet with your paper. (Need only 350 words in this bullet point )
· A justification of the reason the company needs this loan; the purpose might be for expansion, inventory purchases, debt retirement, and so on(I do not need help with this)
· An explanation of how the company plans use the proceeds from the loan and of how loan approval might affect the company(I do not need help with this)
Cite your sources consistent with APA guidelines.
(Please let me know immediately if any team member does not participate fully in any group assignment so I can reduce their points or give no credit, if applicable)