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6
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3
Votes
Manny Rivas
  • San Diego, CA
3
Votes |
6
Posts

Multi member LLC credit check

Manny Rivas
  • San Diego, CA
Posted

I have great credit although my business partner does not. We want to invest in a few properties together using both of our money down but he does not have good credit. I'm using LegalZoom to form a Multi Member LLC for the purchase of the properties. Will his credit affect the process of getting a commercial loan for a property or can they solely use my credit? He's working on taking care of his but it's not going to happen overnight.

Will this negatively affect business credit card applications? We probably will need to apply for credit as well for remodels.

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