Posted By: mbernard
Reg B - Intent to apply for joint credit - 06/30/09 09:00 PM
Can anyone point me where a Reg talks about Intent to Apply for Joint Credit for Businesses.
I am trying to decide in what aspect the "Intent to apply for joint credit" applies to businesses. If the Husband and wife are getting a loan under a business name, where they will just be authorized signers, is this "intent" for joint credit required to me awknowledged by them because the business is getting the loan? Or just when the couple is applying for a loan jointly to be used for a business?
Or if you ahve any further guidance relating to the "Intent" and a business, I would really appreciate it.
Thanks in advance!
I am trying to decide in what aspect the "Intent to apply for joint credit" applies to businesses. If the Husband and wife are getting a loan under a business name, where they will just be authorized signers, is this "intent" for joint credit required to me awknowledged by them because the business is getting the loan? Or just when the couple is applying for a loan jointly to be used for a business?
Or if you ahve any further guidance relating to the "Intent" and a business, I would really appreciate it.
Thanks in advance!