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#1912462 - 04/07/14 10:00 PM CRA - Lines of Credit
bobo07 Offline
New Poster
Joined: Jul 2013
Posts: 11
Hello - im new to this area, so if anyone can please help me out, i would really appreciate it:

- How are lines of credit reported for CRA purposes?
- What amount is the originated loan amount, the total line or the drawn down balance at the time of reporting?
- What do we do with loans that were originated at over $1 million?

Thanks!

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#1912471 - 04/07/14 10:31 PM Re: CRA - Lines of Credit bobo07
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,281
For lines of credit, use the note amount (the maximum availability). Loans or lines greater than $1MM will not be small business loans. If they wualify, they can be community development loans.
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#1912642 - 04/08/14 04:29 PM Re: CRA - Lines of Credit Kathleen O. Blanchard
bobo07 Offline
New Poster
Joined: Jul 2013
Posts: 11
thank you - one more question - for SBA loans, are we supposed to use the total amount including the sold portion or just the Bank's obligation....

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#1912738 - 04/08/14 06:19 PM Re: CRA - Lines of Credit bobo07
Len S Offline
Diamond Poster
Joined: Oct 2004
Posts: 1,967
Connecticut
Report the total amount at origination if it is a 7A loan
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