Formation and ownership records for the business, several years of financial statements and tax returns, a current inventory valuation, payroll registers and an employee list, the lease, supplier agreements, and a draft purchase agreement allocating the price across asset categories.
The seller's file becomes the application's evidence base
Almost everything an officer will later want about the enterprise originates with the seller, so Ismail should ask for it while he still has leverage. Formation documents and the ownership ledger show who owns the business today. Financial statements and tax returns establish that it operates and give the figure against which his investment is measured.
A dated inventory valuation, ideally supported by a physical count near closing, underpins the largest line in the price allocation. Payroll and the employee list answer marginality without projections. The lease determines whether the yard can keep trading after the sale and on what terms, and supplier agreements show whether credit lines transfer.
On his own side he needs a Canadian passport, the trail of his funds from the Powassan business or personal accounts, and a business plan for the yard under his ownership.