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#1081592 - 11/13/08 09:22 PM Small Business or Farm?
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
I have a loan here that is to purchase cattle, but secured by a CD. Would we report this as a small business or farm loan?

Thanks a bunch!

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CRA
#1081604 - 11/13/08 09:32 PM Re: Small Business or Farm? Glo
RR Becca Offline
Power Poster
RR Becca
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
Ag purpose = Call Report Code 3 (loan to farmer) = small farm loan.

smile
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#1081755 - 11/14/08 12:00 AM Re: Small Business or Farm? RR Becca
bOaty Offline
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bOaty
Joined: Aug 2006
Posts: 4,266
Chillin an grillin
Don't forget that farm loans over $500,000 aren't reportable. smile
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#1081870 - 11/14/08 02:07 PM Re: Small Business or Farm? bOaty
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
Yes, I do know that....thanks for the reminder though. smile

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