Healthcare Expansion Loan Program II (HELP II)
Frequently Asked Questions (FAQ)
Uses of Funds
Loan proceeds up to $1,500,000 per borrower may be used for eligible uses as listed below.
- Purchase, construction, renovation, or remodeling of real property
- Purchase equipment and furnishings
- Perform feasibility studies, site tests, and surveys associated with real property
- Pay permit fees, architectural fees, and pre-construction costs
- Appraisal fees
- Title fees
- Financial advisor fees
- Authority loan fees
Loan proceeds up to $1,000,000 may be used to refinance existing debt. The existing debt must qualify as an eligible use under the HELP II Loan Program.
- Refinance existing debt, but only when a single obligation is paid in full
Yes, a qualifying existing loan may be refinanced, but the entire obligation must be paid in full. Refinanced loan terms are: 3% fixed interest rate, 15 year amortization, and $1,000,000 loan maximum.