LLC question concerning credit of partners

[Zion R.E.S.]

I understand that it takes a while before a lending institution will loan to a LLC without taking into account the credit of the owner.  This is my situation.   I want to form a LLC and also have my wife as a member.  I have bad credit, she has good.  If I applied for a loan (either for a property of as a small business loan)  as an LLC, would I need to use my information also, or is there a way to only use hers?  Do they only take the credit information from the majority owner or everyone involved?  If  the ownership makes a difference, how should I divide the membership of the LLC?

[tedjr]

Howdy Zion:

You can have your wife be the only personal guarantor on the notes as a member of the LLC. Some banks will not do this for unsecured lines etc buy mortgage companies are not as picky. You will want to find a good broker who has several sources and not just one.

[Zion R.E.S.]

Thanks a bunch tedjr.  There is hope yet.