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September 22, 2009
Yes, the owner[s] of this LLC company must establish a line of credit for the company when it first starts out. But after that, if the company can show that its credit is good through payments on accounts, then you can use that business for the line of credit.
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Horaayy..there are 4 comment(s) for me so far ;)
Yes.
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Yes, the owner[s] of this LLC company must establish a line of credit for the company when it first starts out. But after that, if the company can show that its credit is good through payments on accounts, then you can use that business for the line of credit.
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Personal experience of working for a LLC company
yes, until the llc developes it’s own assets and credit history
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In theory, LLC is a separate entity and should be able to establish its own line of credit, however when it’s a brand new or fairly young company, the creditors will ask the principals of the company to provide personal guarantee, which means the company principals agree to pay the debt out of personal asset if the company fails to do so, therefore the personal credit score does matter.
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