Bank Account Maintenance with Partnerships

[Qasim Naeem]

Hi BP! I wanted to understand how maintaining bank in partnerships should work considering that my partners and I want to invest but we want the loan to be in one of our names and not all of us. Is it a MUST to have the proof of funds to be in the bank account of the partner who will be on the loan or is there a way to show the funds of all of the partners to make up the total investment amount? For example:

Price - $200,000

Down Payment - 20% = $20,000. Let's say the cash to close is $30,000. Partner A has 15000 and Partner B has 15000 but the loan is going to be on Partner A's name. How should one go about this?

Thanks in advance!

Qasim Naeem