I am having a brain hiccup and cannot remember the last time this came up. We have an individual wanting to take out a commercial loan for business purposes. It would be in his name with his SSN. What issues come up with this? Thanks!

None that I can think of. What is your concern?

Had a lender tell me we couldn't and I started second guessing. Some of those lenders can be tough. lol Some days I'm slightly less confident when I haven't had all the coffee and my brain is foggy.

You are always a ray of light Randy - thank you!

Well, we are assuming that the purpose of the loan is business or commercial. If an individual wants a loan for a personal, family or household purpose, it can't be on a "commercial note" because it's not set up to provide TILA disclosures.

Only of the loan is large enough (over $58,300 currently) and isn't a private education loan or secured by real estate or a dwelling can you ignore Reg Z when the loan is for a consumer purpose.