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Updated over 5 years ago,

User Stats

15
Posts
4
Votes
Reginald Collier
  • New Jersey(near Philly)
4
Votes |
15
Posts

Multiple Lines of Credit, at same bank? 2 separate llc's

Reginald Collier
  • New Jersey(near Philly)
Posted

So I just opened 2 brand new separate LLC's recently.

Company A, and Company B

I applied at WF for a business line of credit for Company A, and was approved for $25K(based on personal credit score/income)

I went to a different bank for Company B(credit union) and they said that the most I could get for a new business in $10K(their policy on new businesses...I didn't apply yet)

The question is......Can/Should I go back to WF and apply for a different line for Company B and potentially get $25K for Company B as well?

They will both be a hard inquiry on my Personal account..........but will they say something like....."We seen that you just applied for a line for Company A, so we can't give you as much now"..............Or will they both be based on their own merits.  help.

thx