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#2110853 - 12/14/16 09:23 PM Sonic CDL???
beegee Offline
Diamond Poster
Joined: Feb 2004
Posts: 1,110
South
Hi,

We've a loan to construct a Sonic ($400,000 loan).

Would this qualify as a CDL given it will employ primarily hourly workers?

Thanks!

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CRA
#2110942 - 12/15/16 03:33 PM Re: Sonic CDL??? beegee
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Yes, it is a possible community development loan. Document how many jobs permanent jobs will be created and the wages for the jobs. You can probably get the hourly wage from the BLS. Geocode the address as well. If it is a low or moderate income CT, you might be able to argue revitalization of the geography.
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#2110988 - 12/15/16 05:52 PM Re: Sonic CDL??? beegee
JC (Darth HMDA) Offline
Diamond Poster
JC (Darth HMDA)
Joined: Dec 2013
Posts: 1,399
CA
Also check to see if the city or county has a "revitalization plan" in that area and that will help make your case.
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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