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#560292 - 05/31/06 05:50 PM Interest calculation
jap Offline
Platinum Poster
jap
Joined: Mar 2004
Posts: 600
IN
Interest on commercial loans is currently 30/360. Management proposes to go to 365. I assume there would be no prohibitions on such a change. We're talking about the new method for new loans only obviously. We wouldn't be changing the method on existing loans. Any thoughts?

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#560293 - 05/31/06 06:11 PM Re: Interest calculation
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Should be no problems as for as the statutes are concerned.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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