Aged Corporation Secrets http://www.agedcorporationsecrets.com Information on Shelf Corporations, Aged Corporations and Business Credit Lines Sat, 17 Dec 2011 22:34:42 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 What a Shelf Corporation is and How it Works http://www.agedcorporationsecrets.com/shelf-corporation/what-a-shelf-corporation-is-and-how-it-works http://www.agedcorporationsecrets.com/shelf-corporation/what-a-shelf-corporation-is-and-how-it-works#comments Sat, 17 Dec 2011 22:34:42 +0000 admin http://www.agedcorporationsecrets.com/?p=398 First of all, let’s tackle what an LLC is. In the legal sense in just about all of the United States, the LLC is a kind of business company that offers limited liability to its owners. It is mistakenly called a limited liability corporation by many people instead of the proper term which is a limited liability company.

It is a business that has a hybrid nature and it has the characteristics of not only a corporation but a partnership as well. This provides more flexibility for the owners as they only have a limited liability for the debts and the actions of the company. The LLC is better suited for the smaller company that only has a single owner. The LLC is rather a new type of business entity here in the United States.

Adopted in Wyoming in 1977, now LLCs are able to be created in every state of the union. The LLC is seen as a way to help the small business gain the benefits that are enjoyed by large corporations; it still allows them to keep a small business model of ownership.

What exactly does limited liability mean for those of us who are not savvy in legal terminology? Once the small business decides to become an LLC, the owner of the business is much less responsible for prosecution and other debt issues which may plague the business. If bankruptcy has to be declared, the business owner can rest assured that his or her personal finances will not be caught up in the problems of the business.

Now on to the next subject which is a shelf corporation. This is also known as an aged corporation. It is called this because it has had no activity. It was formulated and, as it were, put on the shelf to mature. This corporation may then be sold to someone who would rather have an aged corporation and simply not a brand new one. A business entity that has been created by a means other than incorporation is simply known as a shelf company.

What are some of the reasons that a person would want to buy a shelf corporation? Some of them may include the following:

- To act as a time saver. It takes time to create a new corporation.

- There would be the chance to bid on contracts. Some places may require a certain time limit for the company to be in business before it can do this.

- It may appear that the business has been around for a long time which may add to investor or consumer confidence.

- It may be easier to acquire investment capital.

- It may be easier to obtain corporate credit.

There are a number of websites on the Internet that make it their business to produce and sell shelf corporations. This will assure that the new buyer can have a corporation that has a long history while at the same time being able to have entire control over setting up the corporation’s shareholder profile and its board of directors.

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]]> http://www.agedcorporationsecrets.com/shelf-corporation/what-a-shelf-corporation-is-and-how-it-works/feed 0 A Guide To Buying Aged Shelf Corporations http://www.agedcorporationsecrets.com/aged-corporation/a-guide-to-buying-aged-shelf-corporations http://www.agedcorporationsecrets.com/aged-corporation/a-guide-to-buying-aged-shelf-corporations#comments Mon, 25 Apr 2011 02:22:34 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/a-guide-to-buying-aged-shelf-corporations

A Guide To Buying Aged Shelf Corporations

Shelf corporations are companies that have been formed by the incorporator with the sole intent of reselling it to another company or individual.  The lives of these corporations can go back several years or several decades.  These companies can be purchased by interested parties and are in high demand for various reasons.

Respectability and legitimacy is an important component of any company's image.  With a vintage shelf corporation, a degree of respectability can be purchased.  By purchasing a company that is aged, you establish a documented track record of existence overnight.  Some companies purchase older shelf corporations in order to claim they've been doing business longer than they actually have.  You've probably seen this in various marketing where a company claims to have been”in business since…”.  Well, many of those companies have not been doing business that long.  By purchasing an aged corporation, they inherit that company's track record.

There are many other advantages to purchasing a shelf corporation compared to simply forming one on your own.  Perhaps the most common reason is to simply save time.  If you're running a busy business, you might not want to invest the time and resources into forming a startup corporation.  By purchasing an existing aged corporation, you simply have to go through the transferal process which is usually much more simple than the formation process.

Another reason to purchase an aged corporation is to gain access to various business opportunities that are only available to older companies.  Many times, this is specific to a particular corporation.  For example, you may find an aged corporation with a securities license.  Or you may be interested in doing business with a government that requires a business be a certain number of years old to bid on contracts.  Either way, an aged corporation is a good choice.

Finally, aged corporations are important because they open doors to various financing opportunities that might not be available to a startup.  As stated earlier, by purchasing an aged corporation, you inherit it's track record.  Assuming the company is a true shelf corporation and hasn't been used, you will have an advantage at gaining access to corporate credit and investment capital compared to a typical startup company.

Purchasing an aged corporation is advantageous to simply forming a startup company.  There are common pitfalls that must be avoided, but the reward of having an aged company is often worth the research, time, and costs involved.

MoneyChan.com is an online community forum for people looking to make money online.  Topics include hyips, autosurfs, stock investing, web development, and online marketing.  The website can be found at http://www.moneychan.com 

]]> http://www.agedcorporationsecrets.com/aged-corporation/a-guide-to-buying-aged-shelf-corporations/feed 0 during the Gilded Age, industrial capitalism concentrated power in the hands of corporations.? http://www.agedcorporationsecrets.com/aged-corporation/during-the-gilded-age-industrial-capitalism-concentrated-power-in-the-hands-of-corporations http://www.agedcorporationsecrets.com/aged-corporation/during-the-gilded-age-industrial-capitalism-concentrated-power-in-the-hands-of-corporations#comments Thu, 07 Apr 2011 13:00:15 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/during-the-gilded-age-industrial-capitalism-concentrated-power-in-the-hands-of-corporations Americans searched for ways to shift the balance, including strikes, antitrust actions, and regulation. How did Theodore Roosevelt attempt to respond to this problem? How did his approach differ from earlier efforts? Was it effective?

Yes

]]> http://www.agedcorporationsecrets.com/aged-corporation/during-the-gilded-age-industrial-capitalism-concentrated-power-in-the-hands-of-corporations/feed 2 Selling my Aged Shelf Corporation – I’ve been funded :)? http://www.agedcorporationsecrets.com/aged-corporation/selling-my-aged-shelf-corporation-ive-been-funded http://www.agedcorporationsecrets.com/aged-corporation/selling-my-aged-shelf-corporation-ive-been-funded#comments Fri, 01 Apr 2011 15:48:23 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/selling-my-aged-shelf-corporation-ive-been-funded Hello!
Okay, we purchased a 7 year old aged shelf corporation from Intelligent Risk Management (www.intelligentRM.com) a three months ago.We got funded $455,000 unsecured from Wells Fargo Business after we applied with the aged shelf corp. They used the D&B scores and age of the corp for the application.
We already owned a company, but were too new to get the funding, and our personal credit had taken a few hits because of the economy and some personal issues. We own a commercial cleaning company, and also bid on Central Contractor Registration.
My question is now that we’ve gotten the funding we needed; we’re going to go back and our old name & original LLC (which is actually only a year and some change old), and wondering if we can just sell the Aged Shelf Corporation that we got the loan through? I contacted Intelligent Risk Management,they do not buy corps, and could not advise us on anything, because it’s been funding, and that would be considered "financial related" question. They also do not buy-back companies.

Anyone know? Thanks in advance =)

Karen & Amber
Dallas, Tx

Why sell it? Why not do this: pay the state fee – usually $25-100 – to convert the corporation to an LLC. Thus you get the original date of filing if you need more credit in the future with the tax benefits of the LLC. It’s become so common that most states have a form to convert from corporation to LLC. But be careful, make sure it doesn’t trigger a repayment clause or change the establishment date of the LLC to now instead of leaving it as 7 years ago.

Actually I’d suggest keeping both.

So do this: have the corporation act as finance source to the LLC, loaning the money to the LLC at cost. The corporation will have zero income – the money it gets from the LLC to pay the loan is paid on the loan, so it’s a wash and no income occurs – so your only obligation will be to file a zero income state and federal return for the corporation, which I do every year for a couple of corporations I have and takes 10 minutes.

The LLC makes all the income and thus you get the tax benefits as a disregarded entity, the corporation has no income to pay tax on, you get to use it for the credit history and you can use it again. All you’re looking at is the yearly corporate renewal fee. In most states it’s less than $100, in a few (Texas and California) it might be $300.

If your shelf was a foreign corporation that is authorized to do business in Texas I think all you’re getting is to save the extra $600 a year in fees (say $200 if it’s Nevada plus the extra $400 for a foreign corporation). I had to look it up, a Texas domestic LLC or Corporation pays $300 a year in fees – very high – a foreign one pays $700.

If you’ve gotten a nearly half-million dollar loan I doubt you need to worry about an extra $1000 a year in state fees.

Realize the corporation still owes this money, you have to close the loan before you could sell the corporation. Also you already have the means to go after some business, e.g. CCR registration: I personally have a CCR registration as does my corporation, so either I personally or my corporation can bid on DOD contracts. Also some companies won’t deal with you until your company is 2-3 years old. Having a 10-year history is very valuable, you paid for it, why lose it?

Intelligent Risk Management is a "farmer," they grow corporations the way a farmer grows tobacco or corn, then they sell them to someone like you who buys them the way RJR Nabisco was buying tobacco and corn. Once the farmer sells a crop, why would they buy it back? Besides, what did you pay? Seven years of corporate filings on a shelf corp. is as low as $500 in some states. So maybe they charge you $10,000. Why should they pay retail to buy it back when they can grow at wholesale? Charge whatever the cost for the corporation was to the LLC and deduct it from income, it’s a business expense.

]]> http://www.agedcorporationsecrets.com/aged-corporation/selling-my-aged-shelf-corporation-ive-been-funded/feed 1 Turner, Inc., provides group term life insurance to the officers of the corporation only. Janet, a vice-presid? http://www.agedcorporationsecrets.com/aged-corporation/turner-inc-provides-group-term-life-insurance-to-the-officers-of-the-corporation-only-janet-a-vice-presid http://www.agedcorporationsecrets.com/aged-corporation/turner-inc-provides-group-term-life-insurance-to-the-officers-of-the-corporation-only-janet-a-vice-presid#comments Wed, 27 Oct 2010 23:40:08 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/turner-inc-provides-group-term-life-insurance-to-the-officers-of-the-corporation-only-janet-a-vice-presid Turner, Inc., provides group term life insurance to the officers of the corporation only. Janet, a vice-president, received $400,000 of coverage for the year at a cost to Turner, Inc. of $5,600. The Uniform Premiums (based on Janet’s age) are $15 a year for $1,000 protection. How much of this must Janet include in gross income this year

Wow, they’re getting robbed on the rate. For group term coverage, they’re paying WAY more than they should.

]]> http://www.agedcorporationsecrets.com/aged-corporation/turner-inc-provides-group-term-life-insurance-to-the-officers-of-the-corporation-only-janet-a-vice-presid/feed 1 What needs to be submitted with a business plan for a small business loan? http://www.agedcorporationsecrets.com/business-startup-loans/what-needs-to-be-submitted-with-a-business-plan-for-a-small-business-loan http://www.agedcorporationsecrets.com/business-startup-loans/what-needs-to-be-submitted-with-a-business-plan-for-a-small-business-loan#comments Tue, 19 Oct 2010 14:20:11 +0000 admin http://www.agedcorporationsecrets.com/business-startup-loans/what-needs-to-be-submitted-with-a-business-plan-for-a-small-business-loan I’ve finally finished my business plan but need to know if there is anything else I need to submit with my application for a small business loan. This is a startup so I don’t really have any other documentation to submit. Any info is appreciated!

I completed a 128 page Bus. Plan a few years ago. After taking 6 months to research and 6 months to put together I finally did it. Everyone (banks, sba, ect.) said for a small business startup I really blew them away. Later I found out that I could have gotten away with about half. Here is a basic list of what I included.
1. A written resume, not just a time line. Out lining your accomplishments.
2. A synopsis of your business. Be very creative. Include Designs of the inside and outside of your establishment if it is going to be a retail sales. Basicly how the building will impact purchases
3. Research. In your own words. keep copies of all articules and include them in a seperate area for reference for the investors. Include Graphs to help them visulize things. This helps during the stage when you meet with the investors
4. Marketing/ Advertising. How do you plan on doing this. Newspaper Ads. Radio Spots, TV Spots, Internet, ect. Show researching proving the best posible approach and how these people are going to be reached. The cost assoc. with this and what percent of your budget you will dedicate. Dont forget for retail you will want to include traffic counts
5. Demographics. This is more for retail. How lives where, How much do they make, ect. show research that proves the demographics match the demographics that utilize your type of bus.
6. List of all equipment or materials including opeining inventories need with quotes on costs.
7. Operating Capital. How much, how did you come to this number.
8. Pro Forma, Month to Month of all costs and revenues with economic indicators showing what percentage of revenue will be generated in that month compared to the overall year.
9. Money. how much do you need xxx for equipment, xxx for operating cost, xxx initial inventory, xxx buildout of the building or real estate. What you have put into the business so for. And how do you plan to pay it back. 5yr loan at 8% with a balloon payment in 3yrs. Operating Capital Loan will be on line of credit with no payments due for the first year. You get the picture.
10. Employees. how many, who are they, what is there requirements to work for you. are there key employees that you know are going to work for you, if so include there resume.
11. Business references. people who are known and respected in the community. Also include people who have already agreed to purchase your product or service. Have them write a nice letter outlining the agreement. This will help prove your revenue.
12. A Personal financial statement. you can get one from any bank. Of course try to chose one from one your going to use.
13. A copy of your credit report. They will pull their own but this helps show that you have done everything. And if you seek private money they will appreciate that you did this easy step.
14. News clippings or Periodical articles that prove your case. That the business you are venturing into is good
15. A copy of a list of all research. web sites, ect.
I would suggest that you place all of your personal financial info into a separate binder. So if you want to show it you can with out devulging everything. Then if there is real interest you hand it over
Bind everthing in a nice hard plastic cover. Office Depot does a nice job for a low cost. Spend the money for color copies on quality paper. Make extra copies. Banks will need two. Private investors will need one and always ask for a second. you will want to keep one. But its always great to have two extra copies. you will need it in a hurry and wish you had it.
Good Luck

]]> http://www.agedcorporationsecrets.com/business-startup-loans/what-needs-to-be-submitted-with-a-business-plan-for-a-small-business-loan/feed 1 Small Business Startup? http://www.agedcorporationsecrets.com/business-startup-loans/small-business-startup http://www.agedcorporationsecrets.com/business-startup-loans/small-business-startup#comments Sat, 16 Oct 2010 23:11:19 +0000 admin http://www.agedcorporationsecrets.com/business-startup-loans/small-business-startup I am looking to open a small business and need some information on small business loans and/ or grants available. Can anyone direct me to a good resouce for this information. I am a minority female and have been told that there a many grants out there available to me but I don’t know where to begin. Any help is appreciated.

You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups — minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women’s Foundation http://www.iawf.org/
New Mexico Women’s Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.

http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

I suggest you read the following books to get ideas of how to finance your business:

Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron’s Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid

For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online http://gtionline.fdncenter.org . It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.

]]> http://www.agedcorporationsecrets.com/business-startup-loans/small-business-startup/feed 4 Is anyone familiar with aged shelf corporations? http://www.agedcorporationsecrets.com/aged-corporation/is-anyone-familiar-with-aged-shelf-corporations http://www.agedcorporationsecrets.com/aged-corporation/is-anyone-familiar-with-aged-shelf-corporations#comments Thu, 14 Oct 2010 13:19:36 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/is-anyone-familiar-with-aged-shelf-corporations I am thinking about buying an aged shelf company to help in qualifying for a business loan. The name of the company and website is: www.agedshelfcorporations.net. Has anyone out there done any business with them or have any experience with buying a shelf corp? Thanks in advance.

The banks should have caught on to this scam.

When they ask for 3 years of RECENT tax returns showing that a) the corp made money and b) you owned it, what will give them?

]]> http://www.agedcorporationsecrets.com/aged-corporation/is-anyone-familiar-with-aged-shelf-corporations/feed 1 What is a business license? How do I get one? Do I need one to apply for a business loan? http://www.agedcorporationsecrets.com/business-startup-loans/what-is-a-business-license-how-do-i-get-one-do-i-need-one-to-apply-for-a-business-loan http://www.agedcorporationsecrets.com/business-startup-loans/what-is-a-business-license-how-do-i-get-one-do-i-need-one-to-apply-for-a-business-loan#comments Tue, 12 Oct 2010 00:11:22 +0000 admin http://www.agedcorporationsecrets.com/business-startup-loans/what-is-a-business-license-how-do-i-get-one-do-i-need-one-to-apply-for-a-business-loan I’m applying for an SBA loan for startup capital for a small business in NC. I’m reviewing the paperwork, do I need to get a "business license" and/or a fictitious name statement?

business license is a legal document that grants you the right to operate a business in your city. depending on your business, there are other licenses that may also be required.

http://www.entrepreneur.com/encyclopedia/term/82288.html

a business license makes sure you are properly zoned or regulated to do business in a certain area.

a doing business as(dba) or fictitious name the operating name of a company, as opposed to the legal name of the company. some states require dba or fictitious business name filings to be made for the protection of consumers conducting business with the entity.

http://www.entrepreneur.com/encyclopedia/term/82258.html

for the most part you dont usually have to get a fictitious name for your business if your business is your name but if you go by anything other than your name you need one

i never applied for a loan so i dont know if you need them or not but that is what they are. i have an online store so i do not need a business license and its under my name so i dont need a dba. to best know what business license you need you need to get a lawyer…you probably need a lawyer in general anyway if you plan on running a business

good luck

]]> http://www.agedcorporationsecrets.com/business-startup-loans/what-is-a-business-license-how-do-i-get-one-do-i-need-one-to-apply-for-a-business-loan/feed 2 Can one under the age of 18 register a corporation and a slogan? http://www.agedcorporationsecrets.com/aged-corporation/can-one-under-the-age-of-18-register-a-corporation-and-a-slogan http://www.agedcorporationsecrets.com/aged-corporation/can-one-under-the-age-of-18-register-a-corporation-and-a-slogan#comments Sat, 09 Oct 2010 13:04:11 +0000 admin http://www.agedcorporationsecrets.com/aged-corporation/can-one-under-the-age-of-18-register-a-corporation-and-a-slogan I am 16 years old, live in the state of New Jersey, and am almost a junior in high school.

I am the head of a Flash Game Development group called Venthemiux, and I would like to know if at this age I can legally register Venthemiux as an L.L.C. or the like.

I want the legal backing for our online products so that we can release them without the programming codes and the artwork being stolen. We would also like to have legal backing in selling physical products, such as t-shirts and other apparel, with use of an online store. We would then like to register our original slogan we’ve chosen to our company.

You can check us out at http://venthemiux.org/

Thanks in advance!

I believe you can. There are many young Entrepreneurs under 18 who have businesses. I believe the Facebook guys were 17 when they started. That being said, the laws are going to vary by state. An LLC isn’t complicated to set up, but I would either go/call your town hall to find out for sure. I would say there shouldn’t be an issue.

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