2007-02-16 08:33:53 · 3 answers · asked by Neo 2 in Business & Finance ➔ Renting & Real Estate
No. Any bank would want to see that the LLC has been in existence for a while, is profitable, and they'd still likely want your personal credit as a guarantee.
Considering your LLC doesn't exist yet, it has ZERO credit from which to make any decision. So the default decision must be a no.
2007-02-16 08:39:29 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 2⤊ 0⤋
Well, you would have to qualify then as an LLC, and without a reasonable length of credit and a solid credit rating you are no better risk as an LLC than you are as an individual. Also I can tell you right now, lenders HATE LLC's and most of the ones I work with will NOT fund on them, you will have to get a commercial loan rather than a personal loan and that's not a good place to be. Do it the right way and clean up your credit. I mean, if you cannot manage the finances you have now why would you want to acquire another one of such weighty importance? I didn't mean that to sound rude, but I am trying to be realistic here, are you READY for that kind of responsibility? Think about it, intending to work around the system before even getting into the house just seems like one bad idea on top of another.
2007-02-16 09:58:36 · answer #2 · answered by tiny_dog10 2 · 1⤊ 0⤋
No. You are still trying to borrow money on your own credit.
2007-02-17 14:19:37 · answer #3 · answered by loandude 4 · 0⤊ 0⤋