Updated over 8 years ago on . Most recent reply
Borrowing within an LLC
I have a credit issue which I am working on but will take some time. In the meantime I have access to a 150k line of credit that is interest only for 1 year. My question is can I buy a house cash with the Line of credit under an llc and then later refinance inside the llc and not have to worry about my personal credit?
Most Popular Reply
If you are the personal guarantor on that line, it will remain tethered to your personal credit.
A business line of credit (business credit is more difficult and tricky to build) is what will not require your personal guarantee and will not be attached to the owner.