New Investor with Questions about Partnerships

[Jacob Simerly]

Hello all,

I have yet to invest in anything but plan in doing so before the year is up. I plan partnering with my best friend so we can raise more capital and have a better shot at getting loans. We also have entirely different skills sets that compliment each other perfectly. I have most of the details figured out as for what each of us want out of the partnership. My only question is about legal.

Do we need to form a company to have our partnership? As I understand it most lenders are reluctant to loan money to entities instead of a person. If that is the case, as first time buyers, we likely can't secure a loan. So my question is am I understanding this wrong? Or do lenders only have issues with LLCs or Corps because of their protections?

Any additional advice is welcome!