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W <br />ELIGIBLE PROJECTS <br />e The following types of activities are eligible for use ofRLF funds for private for profit <br />businesses <br />1 ExistinBusiness Expansion Defined as Office Industrial related expansion including <br />land and building acquisitions and construction remodeling relocation equipment <br />acquisition and public facilities improvements <br />2 Business Eouioment Acouisition Defined as the purchase of additional depreciable assets <br />for the purpose of expanding industrial activities <br />3 Development of New Business Defined as the establishment Office and Industrial <br />businesses in all phases including land building acquisition and construction <br />remodeling and equipment acquisition <br />4 WorkinCaoital <br />5 Professional Fees <br />6 Infrastructure Improvements Necessarv to Support New or EXj landinBusinesses <br />CRITERIA FOR USE OF FUNDS <br />1 The project should leverage at least two dollars for every EDA dollar invested <br />2 Creates at least one White Collar job for every 5 000 in RLF money <br />Creates at least one High Tech Office High Pay for every 5 000 in RLF money <br />Creates at least one High Tech ManufacturinglHigh Pay for every 2 500 in RLF money <br />Retains at least one White Collar High Tech Office High Pay orHigh Tech <br />Manufacturing High Pay job for every 1 000 in RLF money <br />3 The project should include a borrower s equity contribution of 10 of the total project <br />cost at a minimum <br />4 The EDA may finance no more than 50 ofthe borrower s working capital needs <br />5 The EDA may finance no more than 33 of the cost of the project <br />6 Loan will be in a junior collateral position to the major source of project financing unless <br />revolving loan fund proceeds are the primary source of funds <br />7 The term of the loan should coincide with the term of the private portion of the loan but <br />may be shorter