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Use of Loan Proceeds
- Purchase or improve land and buildings including
mixed-use properties. A mixed-use property is a property that
contains both commercial and residential components.
- For a mixed-use property to be eligible, the business can occupy
as little as 25% of the total square footage of the building.
- Fund leasehold improvements
- Purchase or improve machinery and equipment
- Purchase inventory
- Fund permanent and revolving working capital
- Finance floor plan lines of credit
- Finance soft costs not to exceed 5% of eligible project costs
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Refinance existing debt
that does not exceed 75% of the WHEDA® guaranteed loan
- WHEDA closing fee (this portion will not be guaranteed)
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