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    1 Reply Latest reply on Oct 20, 2009 3:26 PM by Adducent

    IT Services Startup Baby Steps

    Charger Newbie
      I am in WA and my potential partners are in FL. The company is registered in FL. Other than that this endeavor is in its infancy and I am wondering would it make a difference where (specifically what state/branch...) we opened our business bank account/submitted credit or loan packages? Also, I want all three of us to be on the account...so how do I get the signatures for the other two guys when I open the account here (WA) or vice-verse if they open the account in FL?

      The primary targeted customer is Fed Gov so how does co-location of banking and business help, hurt, make any difference?

      Thanks,
      R
        • Re: IT Services Startup Baby Steps
          Tracker
          I've been involved in several businesses with partners in different states. Some quick feedback regarding your questions:

          1) Which state to set up the bank account? I don't believe it matters from an operational standpoint. The question should be are you comfortable with your potential partners setting up the banking accounts where they are located. If you're not comfortable with that then you may want to set it up close to you.

          2) Getting signature cards signed. Whoever receives them from the bank once the account is set up should send to the next partner, who signs and hands off to the next partner to sign etc. The final signer would return the signed cards to the person who is reponsible for getting everything back to the bank.

          Dennis Lowery
          Adducent, Inc.