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Updated about 3 years ago on . Most recent reply
Best bank for holding LLC
Hi All!
We are setting up a structure to hold our rentals with one holding LLC owning individual LLC that owns each properties. We have got EIN but realized a lot of banks don't like holding LLCs. What are the banks that everyone uses for their holding LLCs? Any recommendations? Thank you for your time!
Best,
David
Most Popular Reply
@David Lin, are you looking for a lender (a bank that will issue a mortgage on a property owed by an LLC) or a bank for regular banking transactions?
Almost all banks have business banking for an LLC.
As for lending, it depends on the size of the loan. For smaller amounts, many lenders have restrictions for LLC but for larger non-recourse loans ($5mm+) they will actually require a SPE (Special Purpose Entity) that owns the physical property 100%