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Legal Wisdom

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Is it more difficult to get loans if all my assets are in a Limited Partnership? – Legally Mine

On the Phone About Paperwork

No, not really, because banks are now getting accustomed to loaning money to Limited Partnerships. In fact, many hotel chains have the hotel building itself and the land inside a Limited Partnership. Some of the largest companies in America are now using Limited Partnerships. They have no trouble in securing loans from knowledgeable banks. Nonetheless, some small, rural banks often are unfamiliar with how Limited Partnerships and Limited Liability Companies work. As these banks’ attorneys become educated about these entities, even they are becoming more willing to work with them. If you’ve established a good working relationship with your banker, and he can readily see the assets held by various entities, getting proper financing should not be a problem.

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