BiggerPockets

Which banks give loans to LLC to buy SFH? I am having issues trying to find a bank that will even take an application from an LLC. Am I talking to the wrong people? (Wells Fargo, Bank of America), or am I just talking to the wrong department? If I want to look at 5+ units then they will send me to their commercial section.
I want the loans in the name of the LLC, but as the LLC builds credit I don't mind backing them up. I do not want to have all the loans in my name forever though.

Originally posted by Maurice Franklin

Do you have a dun & bradstreet score?

I have applied for one. Should be here in 30 days

Originally posted by Brian Levredge

Your best bet would be to find a local bank to try and do it. Without having an extensive relationship with a bank to begin with, it's going to be very difficult to get loans for your LLC, especially when there is not credit history. Generally, banks want to see two years credit history and financials and even then they still want a personal guarantee.

how do you define local bank? I have an extensive history with wells Fargo but it seems like I get run in circles. At some point you think the llc would be able to take loans out to buy property but all the banks around here are saying no. I would be fine co signing the loan but we can't even get to that point yet.

At the risk of shameless self promotion I just posted a blog article on finding lenders and creating relationships.

You can probably find it by looking through my profile.

Good luck.