ForumsLoans and Lines of Credit

I am sure you will be spammed with numerous offer for "free" money so I will leave that subject alone.

Make sure you establish a "business' checking account.

For tax purposes, you might want to file a IRS Forms 2553 & 8332 allowing your LLC to be taxed as an "S" corp. The IRS doe snot really recognize LLCs as a taxable entity and will reclassify you unless you make your own elections.

You can easily and cheaply accpet credit cards by opening up a Paypal account. You can have people pay by e-mail invoice or on your website. You could even have them provide you their credit card info. and you enter into a paypal payment button on your website.

Talk to a reputable loan broker about assist you in obtaining a SBA backed loan - there are several programs available including "micro" loans that you can get without collateral.

Reply to every credit card offer you get - you should be able to get $15,000 in credit card lines pretty quickly but be careful.

Best of Luck!

I'd like to add on to the "be careful" caution above -- even though all those new credit cards you apply for will be under your business name, your personal guarantee will be required to get them. If your personal credit was good, that'd be no problem. You said it "is not that great," however, and if the reason is because of past late payments or overdue bills, then submitting a lot of applications for additional credit cards will "set off alarms" that could negatively impact your credit score even further. You might want to add new cards gradually.

$15K is really in the 4F money range (founder, family, friends, fools). If you're building a good product, you might try doing some networking -- you may be able to find all or part of the funding you need from industry-related people who recognize the potential. For example, I have a friend who built and opened a recording studio just using 4F money just because musicians, club owners, etc. knew him to be a sober, responsible, and technically competent engineer and soundman. He launched a successful business and we made money on our investment.

Best wishes.

Do you know anyone that would co-sign on a loan with you?

If you know someone with a 700+ credit score, send me an email and I can probobly get you an unsecured line of credit.

adam@capitalsolutionsllc.net

Hi,

Please contact me at 781-341-0700. I can definitely discuss with you how you can meet your capital needs.

Best,
Tiffany