Lending with or without LLC-Pros and Cons

[Raj G.]

Hi,

I have been doing private lending at small level with my own money that me and my wife earned.

I was doing on our own name, no LLC involved.

Now I was thinking opening a LLC.

Just need opinion what are pros an cons doing private lending under LLC?

Do I need some type of insurance, any other thing I am missing that I should take care.

Thanks