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#695280 - 03/01/07 08:22 PM CRA Action Date
DinkD Offline
100 Club
DinkD
Joined: May 2001
Posts: 117
Georgia
We have a small business loan that was funded on 1/5/07 but the application was actually taken in 12/06 and that is the effective date for the interest to accrue. Should we have reported that on our 2006 LAR or can we report that on our 2007? Thanks.

It did not show up on our reports until 01/07.

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CRA
#695307 - 03/01/07 08:57 PM Re: CRA Action Date DinkD
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
Was the loan booked in 2007 or backdated to 2006?
_________________________
Take responsibility for your life.

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#696200 - 03/05/07 02:06 PM Re: CRA Action Date Mrs. Rizzo
DinkD Offline
100 Club
DinkD
Joined: May 2001
Posts: 117
Georgia
The loan was backdated to 2006. Thanks

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#696286 - 03/05/07 04:00 PM Re: CRA Action Date DinkD
bubs63 Offline
Platinum Poster
bubs63
Joined: May 2003
Posts: 665
Highland Park IL
Since the loan was in 2006 it should have been on the 2006 LR
_________________________
Bubs-

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

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#696410 - 03/05/07 05:29 PM Re: CRA Action Date bubs63
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
I agree with Bubs
_________________________
Take responsibility for your life.

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