HELOC under an LLC

[Michael Poloncic]

My credit union came back to me saying they don't allow HELOCs to be done under a business. My question is. Do most lenders or credit unions say this? And, for those who allow HELOC under a business what information/documents do they require to execute it?

[Ned Carey]

@Michael Poloncic I just answered the same question in another thread. A HELOC is a HOME equity line of credit. so the answer you will often get is NO. That may be true even if the same lender offers a business line of credit secured by real estate. Bankers sometime don't think. They are box checkers not creative thinkers.