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Is a W9 required for a commercial loan?

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Is a W9 required for a commercial loan? Some banks require it, others do not.

The purpose of the W-9 is to provide certifications regarding a taxpayer identification number. If the loan is to an individual and secured by real estate you do need an SSN. However, the TIN does not have to be certified; i.e. you do not need a W-9. If the loan is to anything other than an individual or is not secured by real estate, you do not even need a TIN. The characterization of the loan, consumer vs. commercial, is not relevant.

First published on 9/15/03

First published on 09/15/2003

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Filed under lending as: 

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