LLC lending Approval

[Jiwei Yang]

Hello,

I am starting out my LLC with the end goal of eventually owning multiple properties under it. Does anyone have experience with lending with your LLC. How much credibility do I need in order for a bank to approve a loan under the LLC. For example, If I own a 100k property, will a bank then allow me to take out loans upwards of 100k? This might also depend on how much profit my property generates, but looking to get advice from people who have done this before. My end goal is to borrow a larger sum of money for commercial Realestate under the LLC.

Any advice would be greatly appreciated!

[Greg Dickerson]

@Jiwei Yang it all depends on the property, the appraised value, the income it generates and finally your experience and financial strength.

They will use the income from the property to service the debt but they will still be looking for you to guarantee the loan so you will need good credit, income and assets including cash reserves.