Skip to content
BOL Conferences
Thread Options
#897236 - 01/31/08 04:21 PM Community Development Loan
New to CRA Offline
Junior Member
Joined: Jun 2006
Posts: 42
Help!!! if we establish that a loan's purpose is community development, does it matter what the loan amount is? Can it be over ONE million dollars?

Would it make any difference if the gross annual revenues are ONE million or less (1) or over ONE million (2)??


Thanks in advance for your help.

Return to Top
CRA
#897276 - 01/31/08 04:40 PM Re: Community Development Loan New to CRA
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
It can be over $1million, it just can't be a CDL if it qualifies for small business
_________________________
Take responsibility for your life.

Return to Top
#897405 - 01/31/08 05:56 PM Re: Community Development Loan Mrs. Rizzo
New to CRA Offline
Junior Member
Joined: Jun 2006
Posts: 42
but the fact that the loan amount is over ONE million, it would not qualify it as a Small Business Loan, correct??

Return to Top
#897441 - 01/31/08 06:20 PM Re: Community Development Loan New to CRA
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
right
_________________________
Take responsibility for your life.

Return to Top