Business and personal funding, any questions answered

mr.breakit · Nov 10, 2009

ok guys I am starting this thread to help out. I am not the smartest guys when it comes to SEO and other issues and this site has helped me tremendously. So I figure I am going to give back any way that I can.

I run a finance company that helps people and businesses get funding (even in this economy) so I am here to give you free advise on any questions you may have on this topic. I know just about everything there is to know about:

unsecured loans personal and business
unsecured lines of credit for personal and business
secured loans
what the banks are looking for for any type of loan
why shelf corps don't work
how to establish a new company and start getting funding

I can't promise anything but I can almost always sniff out BS deal every quickly and easily for you.

The number one thing I tell people is, "if it sounds to good to be true, IT IS"

So I am here to answer any questions dealing with finance and business in general. Ask away!!!

ClThis · Nov 10, 2009

PM'd -----

mr.breakit · Nov 10, 2009

pm replied.

mr.breakit · Nov 11, 2009

Another point I wanted to add as well. When you start looking for funding or REfi's or even car loan. Eventually you are going to have to pull your credit, if you can what you want to do is pull your credit yourself. Pulling the credit yourself does not show up on your credit report as an inquiry for what you are trying to do.

But there is no way around say a citibank pulling your credit if you apply for a loan with them they will pull the credit themselves but it's always nice to know what your credit score is. this is especially important because if you tell a used or new car salesman you don't know what your credit is, they will tell you a 650 even if you have a 750.

Other things lenders look at are different ratios such as credit utilization. If you have a 1000 dollar credit card and 600 dollar balance you have a 60 % dtc (debt to credit) and that will get you reject from almost any bank at the moment if you go an apply for an unsecured loan.

mr.breakit · Nov 13, 2009

cmon guys. none of you want to know how to get money from banks, or what the standards are for different loans?

TA92649 · Nov 13, 2009

Ok here u go...

Loan Modification company.. Seeks financing for clients going thru loan mod process.

can u help clients that

1. Have had credit problems.
2. Clients may have spotty work history in last 6 montht to a year.
3. May owe more on their house than it is worth.

Hit me back on this one.. sure could use some help on this one!

t.a.

billion · Nov 19, 2009

Tips on starting a corporation and asset protection. I've heard others on the board starting corps in various states such as Nevada, New Mexico, Wyoming, Delaware & others. Any tips for tax savings and asset protection? Tip on establishing a checking account, brokerage account? D&B, Paydex, etc

mr.breakit said:
ok guys I am starting this thread to help out. I am not the smartest guys when it comes to SEO and other issues and this site has helped me tremendously. So I figure I am going to give back any way that I can.

I run a finance company that helps people and businesses get funding (even in this economy) so I am here to give you free advise on any questions you may have on this topic. I know just about everything there is to know about:

unsecured loans personal and business

unsecured lines of credit for personal and business

secured loans

what the banks are looking for for any type of loan

why shelf corps don't work

how to establish a new company and start getting funding

I can't promise anything but I can almost always sniff out BS deal every quickly and easily for you.

The number one thing I tell people is, "if it sounds to good to be true, IT IS"

So I am here to answer any questions dealing with finance and business in general. Ask away!!!

rob19028 · Nov 19, 2009

I sent a PM.

Questionable · Nov 19, 2009

If you could talk about the process and requirements through starting a business and getting it to the point where it can have an unsecured credit line, I'd like to hear that.

Italian Hawk · Nov 19, 2009

Why would one want to start their own business for their online earnings as opposed to just reporting them as income? I've heard I should register a business and have my earnings reported as the businesses earnings. Was wondering why?

nomore · Nov 19, 2009

billion said:
Tips on starting a corporation and asset protection. I've heard others on the board starting corps in various states such as Nevada, New Mexico, Wyoming, Delaware & others. Any tips for tax savings and asset protection? Tip on establishing a checking account, brokerage account? D&B, Paydex, etc

Pretty much what I would like to see too.

Also, any disadvantage you see in an LLC in protecting personal assets?

Michelle1 · Nov 20, 2009

billion said:
Tips on starting a corporation and asset protection. I've heard others on the board starting corps in various states such as Nevada, New Mexico, Wyoming, Delaware & others. Any tips for tax savings and asset protection? Tip on establishing a checking account, brokerage account? D&B, Paydex, etc

This please along with how to keep your info out of the public record

mr.breakit · Nov 20, 2009

what do you consider credit problems aka lates jedgments.
what is spotty work history how does the bank account look do they have cash in the bank account
if they are upside down on the house then obviously can't use that for funding.

how much funding are they going for, what is the credit score also what is the DTC ratio of the credit cards they have, that will make a difference.

TA92649 said:
Ok here u go...

Loan Modification company.. Seeks financing for clients going thru loan mod process.

can u help clients that

1. Have had credit problems.
2. Clients may have spotty work history in last 6 montht to a year.
3. May owe more on their house than it is worth.

Hit me back on this one.. sure could use some help on this one!

t.a.

mr.breakit · Nov 20, 2009

billion said:
Tips on starting a corporation and asset protection. I've heard others on the board starting corps in various states such as Nevada, New Mexico, Wyoming, Delaware & others. Any tips for tax savings and asset protection? Tip on establishing a checking account, brokerage account? D&B, Paydex, etc

what are you trying to do, will there be several share holders or are you going to try and start a corp just for funding. what is your question about a d&b or Paydex. I am not sure what your asking. give me a snap shot of what your trying to do then I will tell you what the best structure will be for you.

mr.breakit · Nov 20, 2009

Questionable said:
If you could talk about the process and requirements through starting a business and getting it to the point where it can have an unsecured credit line, I'd like to hear that.

ok I can do that now are you talking about just getting a line of credit in the business name or in personal name. also what type of business are we talking about here, that will matter. give me some details and I will give you the game plan

mr.breakit · Nov 20, 2009

Italian Hawk said:
Why would one want to start their own business for their online earnings as opposed to just reporting them as income? I've heard I should register a business and have my earnings reported as the businesses earnings. Was wondering why?

tax write offs. you are able to write off expenses needed for supporting your company that you could not if you just had it as income. what amount of income are we talking about here because if it's low enough you don't have to report it at all.

mr.breakit · Nov 20, 2009

nomore said:
Pretty much what I would like to see too.

Also, any disadvantage you see in an LLC in protecting personal assets?

there is a term called "piercing the corporate vale" on one side of the vale is your personal assets on the other side is the business assets and if they biz goes under and you have not pierced the Vale then your fine. BUT if do pierce the vale then your done for. examples would be using corporate money to pay for a personal vacation. the best way to protect yourself is to always pay yourself a check and never use your business funds for anything personal.

any other specific questions on this topic are welcomes. I am trying to give you guys just a brief overview of these issues.

mr.breakit · Nov 20, 2009

Michelle1 said:
This please along with how to keep your info out of the public record

The best way is for the agent for service have an attorney or you can have like legal zoom act as agent for service. for a corp its different because you have to have minutes at meetings but for an llc you can really hide your name well. just have agent for service as a lawfirm.

I assume your talking about an LLC right?

mr.breakit · Nov 20, 2009

sorry about the delay guys business has been really busy this week, but hopefully this started to answer your questions, I know you will have more so shoot them out.

mr.breakit · Nov 20, 2009

I can also questions about business deals your trying to see if your about to be scammed or if the deal is to good to be true. I can normally spot scams from a mile away.

Business and personal funding, any questions answered

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