Lenders who will Lend to an LLC for STR Properties

[Steven Taylor]

Hi There, 

We have an STR under contract in RI and are looking for Banks/Entities that will lend directly to an LLC. Any recommendations would be greatly appreciated!

Thanks,

Steven

[Luke Carl]

Any commercial loan (local bank) or a DSCR which most brokers can do now.

[Leslie Anne Morris]

I have a DSCR lender who lends to an LLC. Not sure if they are licensed in your state but happy to share contacts.

[Kevin Woodard]

I only lend to entities and would be happy to answer any questions you have. 

[Erik Estrada]

Quote from @Steven Taylor:

Hi There, 

We have an STR under contract in RI and are looking for Banks/Entities that will lend directly to an LLC. Any recommendations would be greatly appreciated!

Thanks,

Steven

Plenty of DSCR options that will be able to do this. Happy to connect

[Eliott Elias]

Some DSCR lenders will lend based off STR numbers, but the LTV goes down

[Andrew Steffens]

In my experience all DSCR lenders will lend (if not require) property to be in an LLC. An example would be @Tyler Solomon

[Tony Severance]

Hi Everybody, 
Sorry, but I am just now seeing this month old post. As others have mentioned, it is very common to close on a STR in the name of an LLC. And yes, DSCR loans often close this way. It is not difficult to execute this type of closing. However, as both prices and interest rates have increased, it has become more difficult to qualify STR purchases using 1007 rents. This is where using the short term rents to qualify for DSCR loans has been so powerful. We all know that STR is typically much higher than annual lease amounts, so using the short term rents is critical to making these deals work. As @Eliott Elias mentioned, the LTV may decrease by 5%, but that may also depend on the borrower's experience with STR's. Ping me if you would like more details about how this works.