• July 2018
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How can I get a credit line for a single member LLC while not guaranteeing the loan personally?

Wray does a great job squarely answering your question. As an alternative, here are some other funding options for LLCs:

Bootstrap it yourself. Self-funding from your savings is always preferred as you don’t have to give up any of your ownership.

Ask your “friends and family.” This can be a risky source as business relations can affect your personal relationships, yet they can be some of your biggest supporters and open to attractive terms for repayment.

Find a major customer to front the beginning the costs.

Use a crowdfunding website like FundableMake sure you read the fine print in your agreement with the various sites.

Loans through the U.S. Small Business AssociationA lot of different options here, and historically a solid option for small businesses.

Credit cards / mortgage your house.

Peer-to-peer lending on a site like PropserLike crowdfunding sites, read the fine terms.

You should consider LawTrades for anything that comes up during your fundraising needs. The attorneys on our legal marketplace have a ton of experience assisting companies find the money they need. We offer free initial consults and transparent flat-fee pricing. Good luck!

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