Corporate Credit Secrets
Why Is An LLC Not As Protected As C-Corp or S-Corp
In some states LLCs can't dissolve until the debts are paid off. In every state there is the option to negotiate and get an agreement from the creditors to settle for less (the average is <$250,000 in total debts before most states allow a ...
What Name & Address Is Written For Incorporator of Corporation
Incorporators are those stockholders who originally form a corporation, and whose signatures appear in the Articles of Incorporation. Each incorporator must own at least 1 share of the capital stock.
Can The Registered Agent's Address Be Used For A Virtual Mailbox
No. There will be a USPS Form 1583 that will require notarization and that can only be done with a personal address.
Can An EIN Expire
No. An EIN does not expire and is unique to one's business. Once an EIN has been given to an entity, it will never be issued again.
What Is The Difference Between Common Stock and Preferred Stock Corporations
The main difference between preferred and common stock corporations is that preferred stock gives no voting rights to shareholders while common stock does. In other words, the template given for the Articles of Incorporation makes the corporation a ...
Authorized Capital Shares vs Issues (Common) Shares
Issued shares are the shares sold to and held by investors of a company (thus a certain number of shares MUST exist). Issued shares (aka common stock) capital is simply the monetary value of the shares of stock a company actually offers for sale to ...
Who Is Recommended As A Registered Agent
Utilize our recommendation list to secure a registered agent for $50 / year or less! We update our list to insure every listing here is the lowest price available online. Alabama: https://alabamaregisteredagent.com/ Alaska: ...
The Bank Requires A Statement of Information for A Business Bank Account - What Is That
A Statement of Information is filed to divulge one's company activities over the prior year. This information is often most important to shareholders or other parties that have an interest in one's company.
Cannot Register Trust as Corporation in My State
If one cannot register the trust, it is suggested that one set up an LLC instead for business purposes and to build credit, but use the trust (and name of the trust) to take in all the money. Students in California and Texas have done this ...
The Virtual Mailbox Asks If I Need A Personal or Business Mailbox - Which To Choose
It does not matter. If there is additional verification for a virtual business mailbox (like anytimemailbox.com has) a virtual personal mailbox will do. That being said, the business mailbox is the typical selection for virtual trust addresses with a ...
Will A Filed UCC-1 Hurt Corporate Credit Ratings
The UCC-1 is not typically searched by creditors extending standard tradelines; however, it is a record searched for by banks before determining a loan. If obtaining a bank loan, remove/settle any UCC-1 [listed as a debtor] prior to a loan ...
Can One File A Corporation In Another State
Filing a C-Corp in a state one does not live in often requires a REGISTERED AGENT be on the listing. The agent can then forward any information to one's address in another state.
How Does One Obtain Larger Loans With Corporate Credit
The best way to obtain large loans from banks is to actually have a large balance within the corporate bank account. This means a MINIMUM balance of $10,000 must always sit within the account before a bank will even consider offering its first loan ...
How Many Tiers Of Corporate Credit Are There
It is generally accepted that there are FIVE TIERS of corporate credit. The tiers are as follows: TIER 1: $100-$5,000 in credit from a single card TIER 2: $5,001-$10,000 in credit from a single card TIER 3: $10,001-$25,000 in credit from a single ...
What Is A Personal Guarantee
The term personal guarantee refers to an individual's legal promise to repay credit issued to a business for which they serve as an executive or partner. Providing a personal guarantee means that if the business becomes unable to repay the debt, the ...
Is One Personal Liable For Corporate Credit & Corporate Debts
Yes and no. If one follows the Corporate Credit Secrets program, then the answer will be a resounding "NO"; however, there are programs out there which suggest adding one's self to the guarantor line. While this will allow one to obtain more credit - ...
How Much Credit Can One Obtain Within 6 Months
Within six months, one should be able to obtain ~$50,000 in credit. At the one year mark, one should be able to obtain ~$100,000 in credit. Within three years, one should be able to obtain ~$250,000 in credit.
Does One Need A Trust To Get Corporate Credit
A trust is not required. One can use a C-Corporation or LLC as well.