Getting a loan for a new LLC in Baton Rouge, LA

[Ryan Tortorich]

First post! Hey BP!

My brothers and I recently established an LLC for REI. From what I've read, loans to brand new LLC's aren't going to happen. Maybe we'll have to buy property ourselves and then transfer to the LLC? After some time, will a lender recognize the LLC as an established entity and then offer loans directly to the company?

[Tom S.]

@Ryan Tortorich

"With a personal guarantee, that just means that the lender can come after me personally if the company can't make payments right?"

Correct. And the loan process will be about the same as a conventional loan: paystubs / W2's, credit check, tax returns, bank statements.  Additional items usually related ot the property: rent rolls, detailed plans if you're getting rehab funds, etc.

- Tom