I just can't think straight anymore. Just when I get one loan situation down, another one pops up...HELP!
We have a loan that was originally done as a commercial loan for working capital to a gentleman who sold plants out of his home. He has retired due to his health and was unable to pay off the loan. The loan officer renewed the loan with the original purpose still in place, even though the borrower does not operate a business anymore. Is this still considered commercial or should it be rebooked as consumer instead?