13 C.F.R. § 120.871 Leasing part of Project Property to another business.
Title 13 - Business Credit and Assistance
(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.
Title 13: Business Credit and Assistance
PART 120—BUSINESS LOANS
Subpart H—Development Company Loan Program (504)
Leasing Policies Specific to 504 Loans
§ 120.871 Leasing part of Project Property to another business.
