I called the bank to get a mortgage, it was an odd experience

[J. Pablo Fernández]

Hello,

I have a company, an LLC, that has owned a property for 5 years, which has been cashflowing for 5 years, and appreciated in value a lot during that time. I was using Bank of America as my bank, so they can see the money coming into the account and piling up. I call them to get a mortgage on that property to use the money to buy another. Their answer was "We don't offer loans to companies unless their revenue is 100k/year or more". I don't think we are talking about the same things at all. That sounds like unsecured loans. It's like they didn't know mortgages exist.

They told me to go talk with personal banking (not an option to me because I'm not a US person, I don't have a SSN or credit history).

Is this correct, banks just don't offer mortgages to commercial entities to the point where their workers don't even have them in their radar? I feel like this can't be the case, but it's not my first time attempting this, and I feel like I'm doing something wrong.

[Jay Hinrichs]

Quote from @Bob E.:

Quote from @J. Pablo Fernández:

Hello,

I have a company, an LLC, that has owned a property for 5 years, which has been cashflowing for 5 years, and appreciated in value a lot during that time. I was using Bank of America as my bank, so they can see the money coming into the account and piling up. I call them to get a mortgage on that property to use the money to buy another. Their answer was "We don't offer loans to companies unless their revenue is 100k/year or more". I don't think we are talking about the same things at all. That sounds like unsecured loans. It's like they didn't know mortgages exist.

They told me to go talk with personal banking (not an option to me because I'm not a US person, I don't have a SSN or credit history).

Is this correct, banks just don't offer mortgages to commercial entities to the point where their workers don't even have them in their radar? I feel like this can't be the case, but it's not my first time attempting this, and I feel like I'm doing something wrong.

I have been rejected by Wells Fargo multiple times. We have a decent portfolio and I can't even get a LOC from them. Last summer I got rejected by US Bank. You need to work with smaller banks as @David Garner suggests.

large national banks are a waste of time.  small investors they have zero interest in .. you have 5 million in their bank that might be different.. One needs to find small local Commerical only banks.. usually 1 b or under in size . where you can actually meet the head credit officer and the bank president and such.. these are the banks you want to deal with for these situations..  Not saying foriegner can do this but for us  USA citizens with these small portfolios this is where you want to go the big banks just are not interested in us small guys/ gals.