Loan proceeds may be used for:
 | Land |
| Buildings |
| Equipment |
| Inventory |
| Working Capital |
| WHEDA closing fee |
| Soft costs not to exceed 5% of the eligible project costs (i.e., architectural fees, appraisals) |
| Refinancing existing debt, including credit card debt, under the following conditions: |
1. The refinance must be accompanied by additional business expansion. The expansion must equal at least 1/3 of the balance of the existing debt that is being refinanced.
2. The debt being refinanced with the guaranteed loan must result in better terms to the Borrower (i.e., lower interest rate, lower monthly payments, or more favorable collateral terms, etc.).
3. The debt being refinanced with a guarantee must be current and never have been more than 30 days past due.
