business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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It likely would not matter even if it was in the business name. Business credit cards for LLCs are almost always tied to the credit of the member getting the card. It may be in a business's name...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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13 Replies
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The bank is going to go over your business plan as part of the loan application and you will obviously need to bring that up as part of it\show them whatever purchase orders and contracts you have. ...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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yes, the problem is that it would be a new LLC, thus no records. I have business credit card as sole proprietor, and could provide some records for that, but since it's not the LLC but my name, not...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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almost :)
the order would be for $20k, $10k of which would be for equipment and would like a loan for that. The other $5k of materials would be coverd by me.
any idea could be requested/provided as...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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Maybe. A bank could look at it that way, but with no track record of success, no other income stream and I would bet payment deferred\done in stages, I would think it would be a hard sell, esp....
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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I think the computer equipment is part of the product that would be delivered to a paying customer. Essentially the LLC has a firm order for $20,000 worth of "solution" and needs a $15,000 loan to...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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Liability protection has nothing to do with getting a loan from a bank\how it is secured. The corp does protect you from liability (i.e., from being sued personally either by individuals or...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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Thanks. Part of the question is, how is it secured against the owner (single member of LLC) if the LLC would theoretically shield the owner from liability?
Let me give you one simple example of...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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Yes my bad, i meant to write it but ended up forgetting, but it's still useful
ok, I guess that's a valid option, though in this case it wouldn't be enough for my needs, but I will keep it in...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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13 Replies
972 Views
Honestly, the bottom line is that for anything larger than a credit card, your new business loan will be secured against YOU as the LLC owner, or against tangible property you can sign over as...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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I did not see the clarification that you were forming an LLC. Disregard what follows since it applies to Corporations. Leaving here just in case it benefits others. If not mods may delete.
For...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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thanks, I meant to clarify that it's about a LLC. do they look at the history of the owners or purely at the LLC history given the limited liability.
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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13 Replies
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As the saying goes, banks love to loan money to people who do not really need it. A lot will depend on the type of business, business plan\projected earnings and whether you will be buying an asset...
business loan for a new corporation?? edit: LLC instead of corporation
Thread created 01-25-2018 by SDRebel
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13 Replies
972 Views
hi everyone, quick Q, we can follow up from that.
i'm about to open a single member corporation and would like to obtain a loan for it. what do they look at for loans when it's a new corporation, is...
