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#1093635 - 12/08/08 08:41 PM Revocable Trusts....CRA reportable???
Glo Offline
Gold Star
Joined: Jul 2005
Posts: 394
Arkansas
If you have a revocable trust that is refinancing commercial property in the amount of less than 1 million....is this considered reportable for a small business loan?

Thanks in advance!

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CRA
#1093668 - 12/08/08 09:06 PM Re: Revocable Trusts....CRA reportable??? Glo
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Yes.
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Take responsibility for your life.

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#1094571 - 12/09/08 10:39 PM Re: Revocable Trusts....CRA reportable??? Mrs. Rizzo
bubs63 Offline
Platinum Poster
bubs63
Joined: May 2003
Posts: 665
Highland Park IL
It does not matter who the or what the customer is. If the loan has a business purpose and is a 1e or a 4a on the call report it is reportable.
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Bubs-

"truth does not occur in the database" - Actual search result on a goverment website

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