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Updated about 6 years ago,

User Stats

41
Posts
15
Votes
Jon Dang
  • Investor
  • Houston, TX
15
Votes |
41
Posts

Advice on getting a loan for a new LLC

Jon Dang
  • Investor
  • Houston, TX
Posted

Obtaining a loan on an "Brand New LLC".

Hello biggerpockets family!

I recently started an LLC with two partners. All of us have decent credit scores ~740-750.However, under a new LLC there is now previous tax history. We can sign a personal guarantee, but is there an way that can negatively affect our individual credit? 

Should we purchase a commercial loan under a LLC, I am also considered getting a traditional loan under my name and transferring the title to the LLC. From the research I read, the bank can call upon the loan through the due to sales clause.

I would like to hear from the biggerpockets community, thank you!

Thanks,

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