Buisness Loan to purchase Rentals

2 Replies

If I ever need a Buisness Loan to purchase a Rental, do I need to shop with Vendors like Uline, and Quill to build Buisness Credit. Or is it just impossible to get a Buisness Loan for Rentals

Unless you use hard money most banks are going to require 20-25% down for commercial business loans. Also these loans usually have shorter amortizations schedules say 20-25 years and typically have a 5 or 10 year balloon. These loans can have repricing in the middle of them too. Credit unions are a good source of info on these kinds of loans.

You can get a secure or unsecured line of credit to start your real estate business too. For example you can get a line of credit against your primary residence. 

Keep in mind banks are more likely to work with you once you have some experience doing deals and have a record or portfolio of success. Banks are great a lending money to people who don't need it. It's much hard to get money from a bank when you need it! :) 

Here's another resource to spend some time with https://www.sba.gov/ A small business loan through the SBA might help.

I'm not sure about the vendors you listed. 

I think your local credit union would be a good place to start.