Who gets the best (highest/most) line of credit? LLC, S-Corp, C-Corp?
Jul.02, 2009 in
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Amber T asked:
Who gets the best (highest/most) line of credit? LLC, S-Corp, or C-Corp?
Also, how is that determined? If I incorporate in someplace like Nevada, can I get a credit where I live in CA for my business?
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Who gets the best (highest/most) line of credit? LLC, S-Corp, or C-Corp?
Also, how is that determined? If I incorporate in someplace like Nevada, can I get a credit where I live in CA for my business?
Accounts Receivable Factoring Quote, Invoice Factoring, Accounts Receivable Factoring, Factoring Loan For Commercial Finance Loans – AR Factor Quote * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
invoice factoring
July 3rd, 2009 at 7:37 pm
Accounts Receivable Factoring Quote, Invoice Factoring, Accounts Receivable Factoring, Factoring Loan For Commercial Finance Loans – AR Factor Quote * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
There are no differences.
Company credit is contingent on multiple things. Length of time in business, profitability, assets and personal credit of the principle or owners.
Banks don’t give anyone high lines of credit anymore.
July 7th, 2009 at 12:42 am
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The line of credit that you are likely to get is based more on the lenders opinion of your estimated future income than on the form of corporate organization.
July 8th, 2009 at 10:24 am
Accounts Receivable Factoring Quote, Invoice Factoring, Accounts Receivable Factoring, Factoring Loan For Commercial Finance Loans – AR Factor Quote * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.
If it is a start up operation, it doesn’t matter, there is no difference from a credit standpoint. The various terms you refer to relate to legal/tax status and not credt worthiness. If you incorporate in a state other than your domecile, there must be a rationale for doing so and the bank will be the first to ask. Assuming there is a good reason, they will still require an authenticated certificate of incorporation, audited financials and tax returns(usually 3 years back). Most important is what you want the money for, hence a need for a solid business plan, without it, your chances for a line of credit or any type of borrowing are minimal.
If you are just starting out, you may want to consider the small business administration as they are a bit more lenient to deal with although a lot more bureaucratic. However, they will ask for similar data.