BUSINESS FILINGS
Establishing a business entity is a necessary step to obtaining a commercial finance solution, such as financing for real estate investments or a business loan. There are numerous steps to completing documentation for a business entity and there are variances in state requirements. To avoid a costly mistake, visit our trusted partner Bizee.
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Real Estate Investors
A limited liability company (LLC) is popular entity structure to buy, sell, and/or hold real estate properties. When acquiring real estate, the LLC is the legal owner of the property. LLCs can be formed for just one real estate transaction or to cover multiple real estate investment properties. You can apply for your investment real estate loan before establishing your LLC, but keep in mind your LLC (or other business entity) should be established by the loan closing date.
Business Owners
LLCs are also popular for business owners due to limited liability and tax benefits. To apply for business loans and lines of credit, an LLC (or other business entity) should be established at the time of application. Additionally, an Employer Identification Number (EIN) or Federal Tax Identification Number is required at the time of the loan request. The number will be used by lenders to identify your business entity and determine its credit worthiness.
