Don't Panic! An LLC Lender May Save the Day

Those businesses looking to secure an LLC lender do not do so flippantly. Often, when a business is looking to secure an LLC mortgage or loan, it is doing so out of a pressing need. For example, any LLC that is involved in the real estate market would need to procure mortgages to expand the scope of its business. However, the current situation with the lending industry has sent ripples of nervousness up and down the spines of many proprietors.

Namely, many in the business world are nervous about their future ability to secure financing. Sadly, the credit market has dried up and acquiring financing has become limited. That means there are fewer institutions that are offering loans for financing for unlimited number of properties. Those institutions that are lending are doing so much differently than they had in the past. For example, Fannie Mae is now putting forth a 4 property rule which greatly restricts the number of properties one can finance. This has led to some LLC’s to despair, but there is no reason to do so. Remember, “limited” does not mean non-existent. There are a variety of sources where one can find an LLC lender. Probably the best source would be portfolio lender.

The average portfolio lender these days seems to be doing quite well. Yes, the overall lending market is depressed but many portfolio lenders have not been marred by the current climate. Mainly, this is because portfolio loans are not the same as traditional banking loans. Portfolio loans are issued by private firms and exist outside the scope of traditional banks. As such, many portfolio loans are free from the chaos that enveloped such companies as Fannie Mae, Country Wide, and their ilk. So, anyone looking for an LLC lender would be best served looking at those that issue portfolio loans.

Now, this does not mean an LLC lender has not been paying attention to the chaos in the market. No LLC lender wants to become a magnet for poor loan prospects. Actually, anyone can apply with an LLC lender. But, applying does not automatically mean the loan will be approved. However, if your company’s credit is fine and the business is financially solvent, then it would seem likely that it would be approved.

So, if you are operating an LLC and are worried about procuring financing for future endeavors, there is no reason to hit the proverbial panic button. An LLC lender offering portfolio loans is out there somewhere. You simply need to locate the LLC lender and you start applying…..

by Susan Lassiter-Lyons - June 6, 2009

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Source: http://www.portfolioloanblueprint.com