Is it necessary to obtain an Itemization of Amount Financed form for commercial loans?

If the loan passes the tests to qualify as a loan primarily for business purposes in Regulation Z, it's exempt from Regulation Z, and, therefore, from the itemization requirement.

Just in case someone has confused an itemization of amount financed with disbursement instructions, one should have the borrower authorize in writing any disbursement not to the general checking account.

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Al Miller, CRCM
Fremont Bank (CA)
(510) 790-5825
(510) 505-5211 FAX

Opinions expressed are my own and not necessarily shared by my employer.

You may want to check on state banking laws. New Hampshire has a statute requiring a disclosure which for all intents and purposes is an itemization of amount financed - although it is not in Reg Z format