How to Open a Mercury Account for a Real Estate LLC
On this page
Opening a Mercury account for a real estate LLC is mostly paperwork you already have. This is the checklist, based on Mercury's own FAQ and pricing pages (read November 3, 2026). Mercury says you can apply in about 10 minutes, but it does not state how long review takes.
Before you apply: your checklist
- Articles of Organization filed with the state. DoorRaise sponsors get the deal LLC formed for them.
- EIN letter from the IRS. See how to get an EIN.
- Operating agreement. Mercury's FAQ lists formation documents and the EIN document, and your bank file should match the signed agreement. See the operating agreement.
- Government ID such as a passport or U.S. government-issued ID for the person who controls the account and every owner with 25% or more. See beneficial ownership.
- A real business address. Residential is allowed, but not a registered agent, PO box or UPS box.
The steps
- Start the application with Mercury's link below and enter the LLC's name, state and type.
- Add the person with operating control, then list each owner with 25% or more.
- Upload formation documents and the EIN document, or the SS-4 if the EIN is pending.
- Describe how the business earns money (for example, rental income from an apartment building).
- Wait for review, then fund the account and set up roles for your bookkeeper or property manager.
After the account opens
- Add separate accounts for reserves or distributions if you want them. Mercury says custom permissions control who can fund or use each.
- Connect your bookkeeping software.
- Set up approvals so one person cannot move money alone.
Who cannot open one
Mercury lists trusts, money services businesses, adult entertainment, cannabis and internet gambling businesses as ineligible, and says businesses with owners or controllers living in countries on its prohibited list cannot apply. If your LLC is owned through a trust, ask Mercury before you apply.
Which one does DoorRaise suggest?
DoorRaise uses one simple cutoff: how much the company expects to keep on deposit. DoorRaise suggests Ramp by default. When the company will keep under $25,000 on deposit, it suggests Mercury. Both are fine, and you can choose either. A new deal LLC cannot open Ramp before closing (Ramp needs at least $25,000 in cash), so it opens Mercury first to receive the closing funds and can move to Ramp after closing. Ramp's own support page says an applicant needs at least $25,000 in cash across the U.S. business bank accounts linked to the application, which is why the line sits there. DoorRaise deal accounts follow the same suggestion: with Mercury, DoorRaise tracks payouts automatically; with Ramp, distributions go through DoorKeeping's ACH payments or a payout file you upload to Ramp.
Open a Mercury account or apply for Ramp. DoorRaise may earn a referral reward if you sign up through these links.
How DoorRaise fits in
DoorRaise helps sponsors raise equity for apartment buildings from their friends and followers under Rule 506(b) or 506(c), with verified accredited investors only. Investors' purchase money goes into escrow at Enterprise Bank & Trust by wire only, and wire instructions appear once escrow is open. The deal's operating account at Mercury or Ramp is a separate account that you open for the LLC and use after closing. Fees: $1,500 to set up (non-refundable), then $5,000 a year from closing (only if the deal closes). See pricing or how it works.
FAQ
Do I need an EIN to open a Mercury account?
Yes, but if it is still pending you can apply with a completed Form SS-4 and send the EIN document within 90 days of approval, per Mercury.
Can I use my home address?
Mercury says the principal place of business can be residential, but not a registered agent, PO box or UPS box.
Does the account hold investor money before closing?
No. In a DoorRaise deal, investors wire their purchase money into escrow at Enterprise Bank & Trust. The operating account is for the LLC after closing.
Sources
This article is general information as of November 2026, not legal, tax, banking or investment advice. Provider details come from each provider's own public pages, read on November 3, 2026, and change often, so confirm them before you apply. Ask your own lawyer and accountant. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.