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.
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.