We did a loan to a hotel in an LMI tract for several million dollars. Part of the money is being used to buy out a partner, part is being used to refi the current debt and part is being used for "working capital".
Sine the hotel is in an LMI tract, and employees LMI workers, I'm wondering if I can claim the part of the loan that is for working capital as a CD loan, since it is used to help stabilize the company, thereby benefiting the LMI tract and employees.
Or can I even claim the entire loan amount?
Thoughts?
Last edited by Lori01; 07/01/19 07:34 PM.