Posted By: WIBanker91
No interest loans - 03/04/20 08:27 PM
Does anyone know if there is a prohibition against doing a consumer or commercial loan at a 0% interest rate? (Other than bad for business, in this case it is a work out situation).
Posted By: rlcarey
Re: No interest loans - 03/04/20 08:33 PM
Not aware of any prohibition.
Posted By: Rocky P
Re: No interest loans - 03/04/20 09:47 PM
Same as Randy's. Just make sure the bank has a policy about it, and is consistent with that application of policy . If you only did it for companies owned by white guys to the exclusion of businesses owned by women or other minorities you can create a fair lending issue