Ineligible Expenditures

Section 5.140  Ineligible Expenditures Loan funds shall not be used for: a) refinancing or payment of existing long-term debt exceeding 12 months; b) payment of non-current or delinquent taxes; c) payments, advances, loans, dividends or bonuses to stockholders, officers, directors, partners, or member owners of limited liability companies; d) the purchase or lease of non-construction motor vehicles or equipment (Section 2705-610(f) of the Law) ; e)         payment of expenses incurred on projects that are not within the scope of the loan or this Part; or f)         security or collateral for another or different loan or debt.