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Using DBA On Sole Proprietorship Loans

Answered by: 

Question: 
When making a loan to a sole proprietorship can you list the 'DBA' under the individuals name and SSN?
Answer: 

You can list the "DBA" for information purposes but the legal name of the sole proprietorship should be used on all loan documents. In addition a filing necessary to perfect a security interest in any collateral must list the legal name of the debtor and not the "DBA".

First published on BankersOnline.com 2/11/02

First published on 02/11/2002

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