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[3 <br /> <br />Multi-tenant projects are eligible for TCCCF loans; SBA requires at least 51% borrower <br />occupancy of mai estate. <br /> <br />T(;CCF loans have no prepayment penalties; SBA imposes prepayment penalties during <br />thc th'st 10 years of the loan. <br /> <br /> nonprofit and fbr-profit corporations are eligible borrowers under TCCCF; only for- <br />pr()fit business enterprises are eligible for SBA financing. <br /> <br />~I'('CCt; loan maximum is $2 million for any kind of business or nonprofit financing; <br />SBA has $1.5 million maximum, except for manufacturing loans that may qualify for up <br />to a $4 million loan. <br /> <br />'I'(;(/CF loans have no eligibility restrictions based on business size; revenues or profits; <br />SBA borrowers are ineligible if they have a net worth over $7 million, and annual net <br />protits of more than $2.5 million for the 2 years preceding their loan application. <br /> <br />~!'(',CCt: loans off'er more flexibility in terms of the percentage of the total project <br />financing participation between the bank and TCCCF; under the SBA 504 program, the <br />bank is required to finance 50% of the total project costs. <br /> <br />Ail projects costs are eligible uses of TCCCF loan funds; SBA 504 loans cannot be used <br />to finance working capital; inventory, or architect & engineering fees. <br /> <br />can provide up to 90% financing on Special Use Buildings; SBA is limited to <br /> <br />f'r()jcct eligibility is not limited by meeting job creation criteria under TCCCF; SBA <br />borrowers inust demonstrate that at least one job is created for each $50,000 in loan <br />~_1 I) 10 unt. <br /> <br />Jim:rest rates on TCCCF loans can be negotiated and reduced if the originating member <br />wamts to offer below market / subsidized financing as an economic development <br />incentive for certain kinds of businesses and/or in targeted development areas; SBA rates <br />arc tixed based upon monthly national debenture sales and are non-negotiable. <br /> <br />13 <br /> <br /> <br />