Building up LLC

[Nghi Le]

I have a brand new LLC and I was hoping for some tips to build it up and earn credibility so it can stand on its own (in order to get a loan, etc). I also heard that it takes 2 years for this to happen; is that true?

Also, any tips on what kind of bank to get a checking account and/or credit card from in the LLC's name? Are there any advantages to opening an account at a community bank vs a credit union or larger bank?

Thanks in advance!

[Imad M.]

I started my LLC in Jun 2014 and I bank with BB&T. I pulled a loan against my retirement account as startup capital and deposited into my business checking. I also applied for a loan towards my first rehab property in the name of the LLC and got approved. I am set to close next week. BB&T will find 80% and I'll pay the rest. I'm going to use credit cards to pay for the rehab.

They're a traditional bank with great customer service. Best of luck to you.