Are there any restrictions on reporting a consumer to a credit bureau for a business purpose loan? We have a customer that is taking out a loan in his own name, secured by his personal residence, but the loan is for his business. Can we report this customer to the credit bureau?

Thanks!

The purpose of the loan is not the relevant factor, it is the borrower. He is an individual, and the loan is in his name as an individual, thus you can report it.

Welcome to the threads, btw!

I concur with fool, the purpose, in terms of the credit bureau would be irrelevant.