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Interior Improvements <br />• Almost all fixed improvements including the repair and /or decoration of <br />walls, ceilings, floors, lighting, windows, doors, entrances, electrical, <br />plumbing, mechanical, air conditioning, architectural change, energy <br />improvements, etc. that are necessary to meet code requirements or ancillary <br />thereto. <br />The following costs are ineligible: <br />• Refinancing of existing debts <br />• Non -fixed improvements, equipment <br />• Working capital <br />• Inventory <br />• Sweat Equity (payment for the applicant's own labor and performance for <br />construction or improvements). <br />Any Fees Involved? <br />The EDA charges $150 as an origination fee, due at the time of closing. Fees charged by the <br />Bank vary with each banks' policy. 10% of the EDA loan will be held until a final <br />inspection is complete. <br />Need more information? <br />This packet provides a summary of the guidelines and process involved in the Little Canada <br />Economic Development Authority Business Revolving Loan Fund Program. If you would <br />like further information or have any questions please contact: <br />n:\Loans \2% BRLF Guidelines <br />Little Canada Economic Development Authority <br />515 E. Little Canada Road <br />Little Canada, MN 55117 <br />Phone (651) 766 -4029 <br />Fax (651) 766 -4048 <br />-10- <br />