Monday, March 2, 2009

financing from bank



1. Get EIN (Employer Identification Number)
http://www.irs.gov

2. Incorporate the business
- speak w/ a tax advisor (C corp. or S corp. etc.)
http://www.dos.state.ny.us

3. Articles of Incorporation designated signers
- Pres.
- V. P
- Secty.
.
.
.
4. Open bank account
- Fill out form
- photo ID
- EIN
- Articles of Incorporation
(organisation)

  • Loan
: Credit based on personal credit status (of all the members)
especially cash flow situation

  • Business plan
- resume
- capital injection
- numbers
- perspective clients
- marketing
- projection
- rate of growth (exel)
- financial balance sheet
- guarantor

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