Hard money loan for LLC

[Rohit Sengupta]

Hello - I am the majority owner (over 50%) of a property held in a LLC. If I am applying for a hard money loan, what participation will typically be required of the minority holders? Will they also get a credit check? Will they be required to be present in front of notary for signing?

[Andrew Postell]

@Rohit Sengupta yeah, this will be very lender specific.  I would absolutely interview lenders in the market area you are targeting.  And if your minority members don't want their credit checked....then only work with those lenders who wouldn't require it.  Some lenders might so just make it part of your interview questions.