Personal loan for LLC versus LLC obtaining the loan

1 Reply

Greetings,

So myself and 3x other individuals plan to purchase 15x units together under a LLC. My question is should we each apply for personal loans using our individual 20% down payment for a small business loan then pool the money in the LLC and use it to buy the properties. Or create an LLC and use it to apply for the loan. Any links for the pros/cons or input would be greatly appreciated.

Originally posted by @Thomas LeBarre :

Greetings,

So myself and 3x other individuals plan to purchase 15x units together under a LLC. My question is should we each apply for personal loans using our individual 20% down payment for a small business loan then pool the money in the LLC and use it to buy the properties. Or create an LLC and use it to apply for the loan. Any links for the pros/cons or input would be greatly appreciated.

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