Hi there,   Unfortunately, in the small business world there is no such thing as buying property under business name only.  The note will have to be personally guaranteed by you and your mother if she is a part of the business entity.   What you will be able to do is to get the deed held in corporate name - this is how most lenders like to have it structured anyway.  It protects you from possible lawsuits in the event someone were to say 'slip and fall' at your place of business.   As far as lenders are concerned - in today's environment, you best bet will be to look for local and regional banks and credit unions.  For more information spend some time on this forum that provides you with some excellent information along with our website that has an exhaustive discussion about loans, lending, business and personal credit and more.   Good luck.

The most important thing is that your business must have the financial history to prove it will have substantial income to support the loan. If you have the income history you'll be ok.

No lender will ever just use business credit unless you are a multi-national company and that is only in some cases. Two reasons: 1) Not every lender reports to D&B and thus they don't have the most recent or complete information. 2) Too many people have tried to use business credit to get around their poor personal credit. I hope you did not pay too much or waste a lot on time on building your business credit - it just doesn't work for most people - regardless of who is telling you it does. Just call around to local banks and lenders and ask if they pull business credit - their answers will tell the truth. I wish that most people who waste their money on business credit would have use that time and money to improve or fix their personal credit (not saying that is your issue but more times than not it is the reason people seek business credit) Most lender will pull your personal credit only - some may look at your business credit just to appease you - but, it will not factor in their decision. Additionally, most lenders will require a personal guarantee which involves pulling your personal credit. Based on what you stated in your post - you might be a great candidate for an SBA loan. The reason is that other lenders may only do 75% or 80% LTV - the SBA may go higher requiring you to put less money down.

You have to look at a business like if it was a person. When you incorporated you gave birth to it and when it got a tax ID number, you gave it a 'SNN' number. Businesses have their own credit, income, and assets. In order for a business to be able to qualify for a loan. It has to qualify just like a person would. It has to have been in the same line of work for two years, makes enough income to pay on the debt, and have the funds for the downpayment. If all of this can be achieve you can buy the property in the company's name. From the sounds of it, you incorp recently, so your business is not going to be able to qualify for now. You might have to buy it on your own credit and income, and wait a few years until the business can refinance the property into it's own name.

Here is a local USA business directory which covers all sorts of services in eight categories. You will find an updated list of property brokers and you can pick the one that suits your needs. Message Edited by NicoleD on 08-11-2009 04:38 PM

So it's confirmed that we can't buy under company name,How exactly to get the deed held in corporate name ? Thankyou