Is a loan to a company buying stock from an ex-employee CRA reportable? It is secured by business assets.
What is the minimum age a person can be to be a member of an LLC and if it is less that 18, does it impact that persons ability to borrow on behalf of
What regulatory disclosure is required for refinancing a commercial mortgage loan?
What should be a financial institution's main considerations/conditions for lending to a start-up business for processing hemp? How does an institution
perfect a security interest in the raw material/and or crude? If the institution has to take possession for some reason, what would be the
recourse? Can the financial institution sell the inventory to another hemp processor?
We are trying to make a loan to a new entity and provide a short term line of credit to help fund the costs of there first contract as a company. We
are wanting to take an assignment of the contract and have their customer issue joint checks for their payouts. I have been unable to find any
document that works on our compliance software. Any ideas of how I would perfect this transaction?
We received a referral for a commercial construction loan from a small business that specializes in providing information to those who are building
homes. The construction loan does not meet any of the triggers for RESPA coverage. The referring source is requesting a 1% referral fee. The bank
would pass this fee onto the borrower. My questions are: (1) Are there any regulatory or legal prohibitions on the bank paying this fee and passing it
onto the borrower, and (2) if the fee is permissible, how should it be listed on the loan documentation?
Are we required to have an intent to proceed on commercial purpose loans?
What, if any, is the regulatory cite requiring the lender to provide the borrower a "Notice to Commercial Real Estate Purchasers?" It is related to CERCLA.
If we have a Promissory Note that does not state a draw feature, but the Business Loan Agreement does state the draw feature, are we in Compliance? Or would we need to add the verbiage in the Note to be in compliance?
On a business purpose loan, can you do a loan modification/extension agreement more than one time? We have a business purpose loan that we did an extension agreement for, going an additional 12 months. We are wondering if it can be done a second time for an additional 12 months? There is no change in terms, etc., just extension of maturity date.