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Updated over 5 years ago,
Business loans to fund downpayments on properties
My business partner and I have begun to seek out larger sums of capital to invest with. We have recently started looking at the possibility of (small) business loans to help fund our down-payments. We have been told this can technically work as long as the money is “seasoned” in our accounts. Is there a drawback to this?
A couple of the issues we have read about online is that a business loan will typically require operating experience of 1-3 years along with the ability to show a history of cashflow and means to cover payments.
Since we have only just started investing together, our LLC only owns one property and we have only a couple months of operating experience.
Are there alternative business loans that we may qualify for with less experience?
Am I able to bring my property that has cash-flowed for over a year now underneath our former LLC to help us with the operating experience and revenues we need to qualify?
Appreciate all feedback!