Commercial loan means a loan or an extension of credit to an individual, sole proprietorship, partnership, corporation, or business enterprise for commercial, industrial, agricultural, or professional purposes, including construction and development loans, any unfunded commitments, and any interest a credit union obtains in such loans made by another lender. A commercial loan does not include a loan made for personal expenditure purposes; a loan made by a corporate credit union; a loan made by a credit union to a federally insured credit union; a loan made by a credit union to a credit union service organization; a loan secured by a 1- to 4-family residential property (whether or not the residential property is the borrower’s primary residence); a loan fully secured by shares in the credit union making the extension of credit or deposits in another financial institution; a loan secured by a vehicle manufactured for household use; and a loan that would otherwise meet the definition of commercial loan and which, when the aggregate outstanding balance plus unfunded commitments less any portion secured by shares in the credit union to a borrower, is equal to less than $50,000.
Commercial loan means, in respect of an insurer,
Examples of Commercial loan in a sentence
Commercial loan participations represent a smaller portion of the portfolio than the portion identified at the previous evaluation.The bank continues to originate the majority of its loans.
More Definitions of Commercial loan
Commercial loan means a loan that is not made primarily for personal, family, or household purposes.
Commercial loan means any loan described in 9 V.S.A. § 46(1), (2), or (3).
Commercial loan. A loan made by a bank, credit union, savings and loan association, insurance company, school, or other financial or credit institution which is subject to examination and supervision in its capacity as lender by an agency of the United States or of the State in which the lender has its principal place of business.
Commercial loan means a loan that is made primarily for business, commercial, investment, agricultural, or similar purposes. The term does not include a loan made primarily for personal, family, or household use.
Commercial loan means that portion of a Loan under the Facility (and identified as such in any Request) advanced to the Owner by the Commercial Lenders.
Commercial loan means any loan or extension of credit that is described in section 46(1), (2) or (4) of Title 9 and that is in excess of
Commercial loan means any loan or extension of credit that is