What if an applicant has not had sufficient operating history to have audited financial statements based on at least 12 months of operations?
The applicant may satisfy any deficiencies in the working capital requirement through guarantees, letters of credit, or a bond in an amount that demonstrates compliance with the amounts required above. A guaranty is not acceptable to satisfy this requirement unless the applicant submits sufficient evidence to satisfy the department that the guarantor has adequate resources.
Related Questions
- We are a new applicant and the audit for our most recently ended fiscal year is not final. Can we submit audited financial statements from the previous fiscal year?
- What Financial Statements should I submit if my company is a Startup Business or operating less than 12 months?
- How many months statement history will be available in Maybank2u.com?
