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Updated over 5 years ago on . Most recent reply
Personal credit report necessary if lending to an LLC?
I'm looking at private/hard money lending in the US after years of lending internationally. An opportunity has presented itself through a local title company and, according to them, their lenders do not typically request credit reports/scores from borrowers. They also require that the borrower borrow in an LLC, rather than their own name.
The potential borrower in this case asked if a personal credit report/score was needed for financing through an LLC. I'm not sure how many members are in her LLC.
Thoughts on this? Value/significance of running credit for a person if borrowing in an LLC?