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Loan Advances

Working Capital:

Working capital can be used for payroll and other approved operating expenses.

Leasehold Improvement (and contingency):

Leasehold improvements are related to any expenses detailed in the Construction Agreement provided to WSFS at Closing.

  • With each leasehold draw request please be prepared to provide the invoice, partial lien waiver, third party site visit, and SBA Form 601.
  • Prior to final funding, WSFS requires executed final lien waiver and Certificate of Occupancy.

Equipment, Furniture, Fixtures:

Please indicate how much WSFS is to pay on the invoice supplied (for example: ‘Please pay $1,000’ or ‘Please pay full invoice amount’).

Closing Costs/SBA Guaranty fee:

This line item was paid at loan settlement.

Interest Reserve:

This will be pulled from monthly to pay X amount of interest payments while WSFS is funding your loan.