Do I Need A Corporation?

The basic answer is YES, you have to have some type of registered corporation, whether it’s an LLC, C-Corp, or S-Corp. A sole proprietorship is not going to work for this program. The amount of approvals is going to be very low as they will not take you seriously. Since they are business credit accounts (which can be converted to cash), ultimately, it needs to be applied for in the form of a corporation. Now, if you have a brand new corporation, and your personal credit is really strong (on the high end, closer to 800 credit score with a very strong history and plenty of available credit), then it may not be a problem at all. Ideally, they are looking for corporations that are at least 2 years old so that it shows a history. If you don’t have that, you’re going to have to set up a corporation, anyways, to be taken seriously. THis is going to be the case whether you’re a merchant business, a real estate investor, or anything else.

One thing we do have access to, and have successfully done for dozens (if not hundreds) of businesses and real estate investors over the past several years, are aged shelf corporations. What that means is that we have access to corporations that was set up on paper 5 years ago. Sometimes this is done by attorneys, and sometimes by entrepreneurs. There is nothing attached to it; credit lines, large amount of corporate credit already built up, etc.

If you have a need for this and are interested in this option, please get in touch with us below and we can explain how this works and the pricing involved with it. We offer different payment plans, and it definitely ends up being worth it because you can become the owner of an aged corporation that is already 5 years old (completely clean, no negative items, etc). To clarify, you don’t even have to use this corporation from an operating standpoint, but you can use it to obtain business funding for the company that you are actually building.

In summary, you do have to have a corporation set up but there are obviously ways around that. Feel free to ask us about obtaining a shelf corporation if that is going to be a barrier to obtaining business funding in this capacity!

We also have some great solutions, through our strategic partnerships, for corporate credit building, so once you have a corporation set up, we can provide some coaching in order for you to build up an extremely thick and impressive corporate credit profile so that you can get the best vendor terms, insurance rates, and anything else that you need for your company.