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Lane, Other/Just Looking in Chicago, IL

Looking for a lender who can give me a loan on several condos owned by an LLC.

Asked by Lane, Chicago, IL Mon Jul 18, 2011

I own several condos in Chicago as part of an LLC. The condos are owned outright, but we are looking to refinance several of them. We don't mind personally guaranteeing the loans (strong credit, income & capital reserves), but would like to have the loans given to the LLC as opposed to us personally for liability reasons.

Is this something anyone can do? I have spoken with the bigger banks and they pretty much said that we need to look to a smaller bank. Loans would be between $100,000 - $350,000 or so.

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Answers

8
Try Lakeside Bank in Chicago, or Wintrust. You may have to move some accounts to them as a part of the package, but they are a strong local lender.
As long as you will personally guarantee the loans, you should be able to find a lender.
1 vote Thank Flag Link Mon Jul 18, 2011
You may have to go to an alternative lender. What they call a hard money lender. They are more expensive but it may work. Be careful if they try to charge you any up front fees.
0 votes Thank Flag Link Wed Jul 20, 2011
Hi,

Call Shawn 630 805 1718
0 votes Thank Flag Link Mon Jul 18, 2011
Yes! I have a local lender that can help you with these types of loan. Call Ray 773-216-4258
0 votes Thank Flag Link Mon Jul 18, 2011
Its tougher to get loans for an LLC these days. I do know of some lenders if you need a referal.
Web Reference: http://AmericorpRe.com
0 votes Thank Flag Link Mon Jul 18, 2011
Call Abe Najera at 847-877-4064 he is great!
0 votes Thank Flag Link Mon Jul 18, 2011
It is true that the smaller banks are more likely to do it. My web site has a few lender references and also try TCF & Perl
0 votes Thank Flag Link Mon Jul 18, 2011
Hi Give Ravi Malli at Metlife call at 847-219-5791
0 votes Thank Flag Link Mon Jul 18, 2011
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