For debt refinancing with expansion, eligible debt can be refinanced if the amount does not exceed 50% of the cost of expansion (in other words, the expansion costs must be at least 2x the amount of debt being refinanced). The
eligible debt includes commercial loans that were substantially (85% or more) used to finance fixed assets such as land, buildings or equipment. The
expansion may include the acquisition, construction, or improvement of land, buildings, or equipment for use by the small business.