Business line of credit BLOC

3 Replies

Hi all , I have try to get business line of credit BLOC from bank for a while. For my LLC that’s holding the propriety , but most bank told me no. Because the LLC is not doing the business just holding the rent. Anyone has experience of getting the BLOC? Thanks !

I haven't looked into it in a while, but the lenders I spoke to in the past wouldn't lend on rent. However, if you set up a business (so, an LLC to hold the property and an LLC to manage) and have reproducible income they can lend against that income. I have a relatively small portfolio, though, so it didn't seem like a management LLC would ever throw off enough income to be worth it.