13 CFR 120.871 - Leasing part of Project Property to another business.

Regulations last checked for updates: May 17, 2024

Title 13 - Business Credit and Assistance last revised: May 02, 2024

View all text of Subpart H [§ 120.800 - § 120.991]

§ 120.871 - Leasing part of Project Property to another business.

(a) The costs of interior finishing of space to be leased out to another business are not eligible Project costs.

(b) Third-party loan proceeds used to renovate the leased space do not count towards the 504 first mortgage requirement or the Borrower's contribution.

authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182

source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.

cite as: 13 CFR 120.871