We have a loan over $1million for refinance a skating center in a moderate income area. Would this qualify as a Community Development Loan?

Would it fall under revitalize & stablizing as its remains open in a moderate income area?

Would if help to have documentation showing employing local low/mod income staff?

I would count it. Anything that brings or retains jobs or attracts people to a LMI geography helps stabilize the geography. Other businesses in the immediate area benefit as well. What would have happened if you had not refinanced the loan? Would the rink have closed and possibly sat abandoned? Would jobs have been lost?

As you suggest, see if you can obtain documentation about the pay rate of the jobs at the rink. Otherwise, looking at payscale.com it appears as if on average an office assistant at an ice rink gets paid $9.00 an hour while an operations manager receives $14.00 an hour. You know darn well the worker bees receive less.

You will need to state what type of credit you feel the loan qualifies for and provide supporting evidence. For example, were there new finds included in the refi, what were they used for....if any were to fix up the building, try to get before and after photos and a list of repairs made.

If the refi provided any change in terms that made the loan easier to handle and there helps the business to stay at the location, do include that information.

For jobs, you will need detail....if the loan being refinanced was at your bank, this could be a tough sell unless there are new jobs being added.

Great thoughts - thank you