§640.50. Eligible Uses of Loan

Financing to or on behalf of rural businesses or agribusinesses in the State shall be for the purpose of assisting in the cost of agricultural or rural diversification projects including costs of:

 

a)         Acquisition, construction, reconstruction, replacement, repair, rehabilitation, alteration, expansion or extension of real property, buildings or machinery and equipment but not the acquisition of unimproved land for the production of crops or livestock;

 

b)         Working capital items including, but not limited to, inventory, accounts receivable, and prepaid expenses (but not debt refinancing or contingency funding;)

 

c)         Organizational expenses including, but not limited to, architectural and engineering costs, legal services, marketing analyses, production analyses, or other professional services;

 

d)         Needed leasehold improvements, easements, and other amenities required to prepare a site (Section 5(a) of the Act).