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#317639 - 02/16/05 08:52 PM 1.5mm BORROWING BASE - 3 LOANS OUT OF THAT BASE
LittleOne Offline
Member
LittleOne
Joined: Feb 2004
Posts: 67
Midland, Tx
HELP, I NEED A FRESH SET OF EYES. COMMITMENT IS 1.5MM - DO NOT REPORT - EXCEPT THEY SIGN NOTES IN VARING AMOUNTS UP TO THAT BORROWING BASE.(IE LOAN FOR 250M, 350M, 900M.) EACH HAVE DIFFERENT LOAN NUMBER!!!???!! CAN I REPORT EACH? ONLY AMOUNTS UPTO 1MM? OR NONE AT ALL.

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CRA
#317640 - 02/16/05 09:13 PM Re: 1.5mm BORROWING BASE - 3 LOANS OUT OF THAT BASE
BeachGirl Offline
100 Club
Joined: Sep 2001
Posts: 206
Myrtle Beach, SC
I would report each individual loan. The commitment is not considered a loan and is not reported, however, each draw on the commitment should be reported provided it fits the small business purpose criteria.
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Thanks for all of your help!

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#317641 - 02/16/05 09:24 PM Re: 1.5mm BORROWING BASE - 3 LOANS OUT OF THAT BASE
Anonymous
Unregistered

THANKS!

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