Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Nandish Parmar
  • Rental Property Investor
  • Irving, TX
2
Votes |
6
Posts

NAICS Code for Private/Hard money lending

Nandish Parmar
  • Rental Property Investor
  • Irving, TX
Posted

Hello Experts, I am trying to open a bank account for my LLC, that is going to act as the Hard money lender for my wife, when she buys a property. When using the naics code 522292 (This U.S. industry comprises establishments primarily engaged in lending funds with real estate as collateral.) banks are refusing to open bank accounts.

What NAICS code do hard money/private money lenders use to open bank accounts?

Reason to open that LLC is this thread in case you have not seen earlier - https://www.biggerpockets.com/forums/48/topics/460294-how-to-cash-out-1-4-unit-property

Loading replies...