Oct 23, 2014
10:45:44am
10:45:44am
The lender will want recourse if payments aren't made
so there will need to be someone with good credit to be the guarantor along with a 20% down payment. The banks' first offer will be to have all LLC members be jointly and severally liable for the debt. That won't gain any traction, so you'll need to find at least one person to be the guarantor (most likely).
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