Who Can Provide Mortgages For NOO Properties Thru A C-Corp
I am an investor with a C-Corp. I own several properties through the Corp in Ohio with private investors that personally guarantee the loans for my residential properties. I am looking for a lender that can finance a C-Corp ALONE, without any personal guarantees.
My C-Corp has impeccable credit and a hefty Equity position. I would rather finance these through the corp., however I do have agreements with my private investors that allow me to use them to personally guarantee the mortgages.
Are there any Lenders out there that can do Mortgages thru a C-Corp?
My Corp has impeccable credit with over 4 lines. However I have found that most lenders want personal guarantees before they lend to a corp.
What lenders do you know that will lend without the personal guarantee? Please advise.
Most large banks have a commercial department. Most of those will lend to a corp with no personal guarantee. There is also no shortage of commercial lenders who will do the same.
As pointed out most lenders will not lend to a new corp. Some will but most want to see experince.
Loan size is another bid factor in this. Most commercial only want to do big loans. Some will only do small loans.
So if it is a new corp asking for a small loan you may need lender A. But more likely a bank.
If it is an aged corp with a track record for a large loan lender B may be your best one.
I almost forgot "a hefty Equity position" is expected.[ Edited by lacashman on Date 03/02/2006 ]