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Advice on getting a loan for a new LLC
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,