If someone provides a truth in lending disclosure for a business purpose loan, what are the consequences? Do you then have to follow the regulation at that point, ensure everything is disclosed correctly, calculations are correct, etc.? Or do you disregard? Hopefully this makes sense.

Official Interpretation

3(a) Business, Commercial, Agricultural, or Organizational Credit

1. Primary purposes. A creditor must determine in each case if the transaction is primarily for an exempt purpose. If some question exists as to the primary purpose for a credit extension, the creditor is, of course, free to make the disclosures, and the fact that disclosures are made under such circumstances is not controlling on the question of whether the transaction was exempt.