 | Intangible assets |
| Expenses not directly related to the new product or process |
| Research and development costs |
| Loan origination fees (except WHEDA closing fee) |
| Any project costs incurred before a complete application or Intent Form (Form 2) is received and acknowledged by WHEDA |
| Transactions where a Lender: |
1. Has taken title to a business, or the fixed assets of a business, as a result of bankruptcy or foreclosure proceeding; or
2. Is at risk of taking title to a business, or the fixed assets of a business, as a result of bankruptcy or foreclosure proceeding
