California Health Facilities Financing Authority

Healthcare Expansion Loan Program II (HELP II)
Frequently Asked Questions (FAQ)

FAQ Index

 

Uses of Funds

How may loan proceeds be used?

Loan proceeds up to $1,500,000 per borrower may be used for eligible uses as listed below.

Eligible Uses:

  • 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

Ineligible Uses:

  • 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

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Can I refinance an existing loan?

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.

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