Had a investor that reached out to me for a fix and flip loan but discovered he did not have a LLC to obtain funding. The loan was for an investment and not a personal residence, although some lenders are ok with an investment being funded in the investors personal name. Once I submitted property and investor details,  my current lenders were having an issue with the credit being 646. I then had a lender that was ok and provided terms for my client but stated a LLC was needed to move forward, no problem. Once sending the terms over for review, I was made aware by my client, that the down payment/closing cost would be paid for through gap funding. This particualr lender does not allow gap funding to be added to their loan programs, but he was willing to get an LLC created. The next lender was not comfortable with the amount requested and the credit being just below 650, so no terms were provided. They then asked if the client was willing to get a credit partner on the loan. Meaning my client would leverage another persons good credit score to qualify for the loan. Unfortunately we did not have anyone. 

I later found another lender, who then was willing to work with the clients score and LLC that would be created later. Needless to say I will not and was not willing to give up on trying to get term options for my client just because my current lenders could not help.