Business Loan Law and Legal Definition

According to 12 CFR 34.42 [Title 12 -- Banks and Banking; Chapter I -- Comptroller of the Currency, Department of the Treasury; Part 34 -- Real Estate Lending and Appraisals; Subpart C – Appraisals], business loan means “a loan or extension of credit to any corporation, general or limited partnership, business trust, joint venture, pool, syndicate, sole proprietorship, or other business entity.”