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#1340630 - 02/09/10 10:33 PM Is it a CD loan?
Lori01 Offline
100 Club
Joined: Jan 2007
Posts: 184
VT
An LLC owns a building with a mortgage from another bank. They refi with us.
A different company who is leasing the building for 10 years is doing major renovations to the property and the results will be new jobs housed within the building.
Is my new mortgage a CD loan when the company I am lending to is not the comapny bringing the new jobs...but the new jobs could not have been created if they didn't lease the building?
(not located in a LM area)

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#1340826 - 02/10/10 03:14 PM Re: Is it a CD loan? Lori01
Mrs. Rizzo Offline
10K Club
Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
That seems to be a bit of a stretch. Might be worth fighting for it if you are in desperate need of CD credit.
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#1342684 - 02/12/10 03:16 PM Re: Is it a CD loan? Mrs. Rizzo
Lori01 Offline
100 Club
Joined: Jan 2007
Posts: 184
VT
bump

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#1342687 - 02/12/10 03:18 PM Re: Is it a CD loan? Lori01
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
What did your customer use the funds for?
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#1342689 - 02/12/10 03:20 PM Re: Is it a CD loan? Kathleen O. Blanchard
Pale Rider Offline
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Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
See the other thread titled community development, especially the post by Len.
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