New LLC, New personal home purchase, looking for loan for lot

[Gregory Cannan]

Hello!

The wife and I purchased a home in Feb of 2020.

We formed an LLC in September. We haven't set up an account yet but when we do, we are thinking of bringing on some members so we can fill that account with some cash other than our own.

We want to buy the lot close by and are wondering if our LLC can obtain a loan to purchase the lot if we personally guarantee it with our home as collateral?

With Aloha,

Matthew C.