Banks willing to work with Series LLC

[Troy Reed]

I'd like to share my adventure with a Series LLC. This was recommended by my attorney and after more research it seemed like good route to take. The first series was set up in October 2018 and my bank, First Commercial Bank here in TX was willing to provide the loan and set up an account even though they were hesitant about it. The second series was just established at the beginning of January and after going through all the steps, FCB stated they weren't comfortable with the series and did an exception for us the the first time. After much back and forth with our attorney and their regulators, etc they decided series LLC's should be a part of their customer base and have rewritten their policies to accept them (and us). I am thrilled that we helped convince them to change and I would highly recommend FCB to anyone looking for a smaller bank to do business with. I was surprised that more banks weren't willing to work with Series LLC's but this is something to keep in mind when you're setting up your strategy. Make sure you find a bank willing to work with a series.