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LLC and loans


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Old 12-17-2006, 12:45 PM
adams adams is offline
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Default LLC and loans

When getting a loan for an LLC, do they check each of your members credit? Could having a member that has really bad personal credit hurt out LLC's chances of getting a loan?
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Old 12-17-2006, 12:51 PM
pepe pepe is offline
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Yes and yes.
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Old 12-17-2006, 12:54 PM
susi susi is offline
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Jack. Thanks for the reply. So regardless of the percent ownership and/or who is managing the company, they will check everyone?

I'm in a bind starting up this LLC with a person who should be a member due to the amount of work put in and interest in the startup... But I have these concerns with this person having really bad credit.

Anyone else had to deal with this before?
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