HELOC for property owned by LLC?

[Chien Chen]

Hello BP community,

I have a rental property in LA under my LLC and I was thinking to tap into its equity for building an ADU in the backyard. The property was bought years ago so its loan is fully paid off already. From what's I've learned so far, most well-known banks won't provide HELOC for LLC but I would like to still double check if anyone knows any small/local lenders willing to do so? Otherwise, what would be other financing options if I were to borrow money for the ADU project?

Thanks in advance!