Posted By: notuntermywatch
loan to a trust - 05/22/13 09:32 PM
If we make a loan to a trust (special needs trust) where the purpose is to allow the benefactor to buy a car that has been modified to adapt to their disability, is this consumer or commercial.
The borrower is the trust. But it appears to be consumer purpose. Our loan doc software turns this to a commercial loan and I can't get a Truth-in-Lending.
Would you treat this as commercial or consumer?
Thanks
The borrower is the trust. But it appears to be consumer purpose. Our loan doc software turns this to a commercial loan and I can't get a Truth-in-Lending.
Would you treat this as commercial or consumer?
Thanks