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#2217564 - 07/12/19 09:33 PM Credit Reporting- Agricultural Line of Credit
MainStreeter Offline
Member
Joined: Jun 2014
Posts: 58
We have an agricultural line of credit product. We currently have these coded as account type 7B (agricultural), but the portfolio type associated with 7B is installment. These are not installment loans. What would be the appropriate way to report these? using account type 9B (business line personally guaranteed) or 7A (commercial line of credit) depending on whether the loan is under the individual's vs. a farm name? something else entirely?
I appreciate any feedback on this.

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#2217585 - 07/15/19 12:34 PM Re: Credit Reporting- Agricultural Line of Credit MainStreeter
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
From what I see 7B is only for installment loans. It would have to be reported as a 7A - Commercial Line of Credit but only if the individual is personally liable and company is guarantor. I think that only leaves you 9B for a non-consumer revolving line of credit that an individual has guaranteed.
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