Legal Question in Credit and Debt Law in North Carolina

If we set up an LLC for a chicken farm we are purchasing, will all owners of the LLC be subject to credit approval with the bank?


Asked on 11/28/11, 8:11 am

1 Answer from Attorneys
Clarke Dummit Dummit Fradin (Winston-Salem Office)

Yes. While the bank may opt to loan to a brand new LLC if the real estate is enough security, generally they will only loan on the condition that the owners of the LLC sign personally. Give me a call if you have any further questions.

Read more
Answered on 11/28/11, 1:16 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in North Carolina