Partnership Banking Help

[Sam Gleadle]

Hello everyone,

I have a deal that I used funds from partners and created an LLC. I am also the managing partner on the deal so I am in charge of the bank account and distribution of profits, etc…

I opened an account with Novo, an online business banking platform that I loved at first, but all of a sudden, after only two months, they said my account is closing due to risk?

They will not elaborate anymore than that and I am confused and angry. With that being said, I need to open another bank account somewhere else rather quickly.

Was wondering if there were any better options for me to use for this deal and all other deals in the future?

Cheers,

Sam Gleadle

[Mike Reynolds]

When I opened my LLC I used a local bank. The same bank gives me loans on commercial real estate. I'm nobody special as far as credit score. Do you think a local bank will take your LLC account?