I'm not sure if this is posted in the correct section nor, for that matter, if it is an issue at all. Please excuse me if I am way off the mark.
I heard a very small snippet on the Marian Finnucane Show this morning (I don't even know who was on the panel) about banks and loans. Someone was saying something along the lines that business owners looking for loans offering their houses as security would have to sign an agreement(?) that they were doing so as non-consumers. What is this all about? What is the significance of consumer vs non-consumer? I literally caught only about a minute or two of the show but there seemed to be some issue here.
As an aside, a client of mine who runs a small business was recently refused a loan from his local Credit Union because he is self-employed. Yet, he has raised and repaid loans from the same source before. Have the CUs changed their lending criteria?