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Updated over 6 years ago on . Most recent reply
How to get LLC Loan in Chicago IL
Hey Bigger Pockets!
Hope you all are doing well!
I have spoken to several banks in the local Chicago area about loans for LLCs. Anything residential will have to be a personal loan and only commercial can be given a loan for an LLC however because my partner and I do not have past experience in the field commercial loans are not available either.
Is there a bank/investors in the area you know of that will provide both commercial and residential to a "relatively" new started LLC?
Both my partner and I have 760+ credit and together make over 200k a year. Ultimately our goal is to not have to do a personal loan under a insurance umbrella and have a multifamily real estate property under our LLC for protection purposes.