Suppose that you are an employee of the loan department of Metropolitan Bank, and one of your primary tasks is analyzing information provided by organizations applying for commercial loans. Most applicants are small businesses seeking additional capital to acquire long-term assets. Other applicants are seeking financing to acquire existing businesses. A typical applicant is Cleopatra Jones, who owns Cleopatra’s, a women’s clothing store. Ms. Jones has applied for a loan of $50,000 to finance an expansion of her business.

Required
Identify the types of information you would need from Ms. Jones to help you make a loan decision. Explain why each type of information would be useful.