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Frequently Asked Questions for Lenders: Eligible Uses of Loan Proceeds
Other Lender QuestionsGeneral
What are eligible uses of loan
proceeds? Loan proceeds can be used for the purchase or improvement of land, buildings, machinery and equipment. Can LiDL be used to finance
an in-Home business (i.e., computer consultation, desktop publishing or
day care)? Yes, however if the borrower wishes to finance the purchase or improvement of land and buildings, the business must occupy at least 25% of the total property. Can LiDL be used to subsidize
a loan that will pay off existing debt? No. Refinancing existing debt is not an eligible use of proceeds. Can the borrower finance capital
stock transactions? No. A stock transaction involves purchasing a right of ownership in the business, and this is not eligible.
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