New to CRA ~ We originated a loan in 2008 which is both a community development (not Multi-family) loan as well as a small business loan. If i am understanding the requirements, we must report the loan as a small business loan and cannot receive community development loan credit. Is this correct?

That is correct.

Ditto Kelsey D.

I would still keep track of it though. Some examiners will add comments to the written section of the report stating that there were loans reported as SB loans that were also CD loans.

If you are an ISB, the recently released Q & As give you the option of deciding where you want it counted. The responses above are only true if you are opting to be examined using the Large Bank test.