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Updated over 2 years ago on . Most recent reply

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Jason Kenyon
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Looking for recommended lender

Jason Kenyon
Posted

Hello Biggerpockets family!, we started our LLC 3 months ago and have little income from 2 JVs, but really hoping to get properties under our own title, do cosmetic improvements resell and be able to grow. We were thinking of only 15k to 20k extra capital. It seems getting a business loan from the bank where I have the bank account for the business in is not likely since it is new with little profit they say. I'm trying to figure out if anyone could help with any recommendations OR if you have been in this situation and what lender you got a small loan with. Im not sure whether I should go with a personal loan and what lender such as upgrade etc. or if a business loan? I have excellent credit, and At this point we are looking for something sooner than later, I have been asking around other wholesalers, but no one knows anything or is able to help. I thought i would try here as the last hope. I greatly appreciate any suggestions and direction.

Thank you very much and God bless!

Most Popular Reply

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2,618
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Dave Skow
  • Lender
  • Seattle, WA
899
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2,618
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Dave Skow
  • Lender
  • Seattle, WA
Replied

@Jason Kenyon- most lenders  will not lend to LLCs ....if you are open to trying to get a loan in your personal names - you will  have more sucess 

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