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