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7 <br />Attachment B <br />the grant. <br />4. As a condition of receiving grant funds, all recipients must commit to a six -month <br />mentoring period with an experienced business coach or mentor at: <br />A. Launch Chapel Hill <br />B. 1789 Venture Lab <br />C. SCORE <br />D. SBTDC <br />E. A mentor approved by the Subcommittee <br />ELIGIBLE USES OF GRANT PROCEEDS <br />1. Start up funding <br />2. Working capital or operational funds. <br />3. Purchase of equipment, or machinery. <br />4. Expansion of business services or products. <br />5. Work force expansion. <br />6. Tenant up -fit or leasehold improvements. <br />GRANT PROCEEDS SHALL NOT BE USED FOR THE FOLLOWING <br />1. Paying off or down existing bank debt or investor loans. <br />2. Purchase of equipment or improvement of real estate, which are used or to be <br />used for personal use. <br />3. Political activities. <br />4. Owner salary. <br />5. Speculative ventures (Examples: drilling for gas or oil, commodity futures).' <br />6. Lending or investment. <br />7. Real property held for sale or investment. <br />8. Pyramid sales - distribution plan businesses. <br />