We have a loan to recapture equity on a realestate property leased to a doctor. Our customer is recapturing equity to invest in R/E opportunity.the loan is for $1 million. Would this still have to be reported as small business? we don't know where the funds will be used and I feel it should not.
#2278304 - 11/29/2206:43 PMRe: CRA Small Business - Cash out to Invest in R/E Love Cruising
Inherent_Risk
Platinum Poster
Joined: Jan 2017
Posts: 605
Why wouldn't it?
How will it hit your call report? Seems like a non-farm, non residential RE loan for less than or equal to $1 million to me, but most of the terms you used aren't really defined anywhere, so maybe I'm missing something.