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Need help selling my shelf corporation


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Hello,

 

An aged or shelf corporation in good standing supposedly will make it a lot easier to get a line of credit with suppliers and banks. Is there any truth in this?


I am selling my 18 years old Delaware shelf corporation and looking for brokers that can help. Is there a list of business brokers that deal specifically in shelf (or aged) corporations?

 

Thanks

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Hello,

 

An aged or shelf corporation in good standing supposedly will make it a lot easier to get a line of credit with suppliers and banks. Is there any truth in this?


I am selling my 18 years old Delaware shelf corporation and looking for brokers that can help. Is there a list of business brokers that deal specifically in shelf (or aged) corporations?

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

 

 

I agree...just start everything from scratch..but I do have one question. What is a good secure credit product? Secured CC or secured LOC or secured loan? Which is best? and how much is a good amount?

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

 

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

 

I agree...just start everything from scratch..but I do have one question. What is a good secure credit product? Secured CC or secured LOC or secured loan? Which is best? and how much is a good amount?

Any of those would be fine.. Ideally $5k+ for a line or loan..Some banks have a min amount on secured loans so keep that in mind and some will pull your personal credit.. Wells Fargo has just restarted their secured business credit card and the min. to open that is $500 and goes all the way up to $25k. The good thing with the credit card is you can choose to enroll in their rewards program. So the card would be my first choice personally because of the rewards.

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

 

I agree...just start everything from scratch..but I do have one question. What is a good secure credit product? Secured CC or secured LOC or secured loan? Which is best? and how much is a good amount?

Any of those would be fine.. Ideally $5k+ for a line or loan..Some banks have a min amount on secured loans so keep that in mind and some will pull your personal credit.. Wells Fargo has just restarted their secured business credit card and the min. to open that is $500 and goes all the way up to $25k. The good thing with the credit card is you can choose to enroll in their rewards program. So the card would be my first choice personally because of the rewards.

Ok that's good to know. I knew about their secured personal card, I didn't know they had a secured business card. On a personal level I know the card can become unsecured if they see you are responsible with your payments, does the same go for the business card?

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

 

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

 

I agree...just start everything from scratch..but I do have one question. What is a good secure credit product? Secured CC or secured LOC or secured loan? Which is best? and how much is a good amount?

Any of those would be fine.. Ideally $5k+ for a line or loan..Some banks have a min amount on secured loans so keep that in mind and some will pull your personal credit.. Wells Fargo has just restarted their secured business credit card and the min. to open that is $500 and goes all the way up to $25k. The good thing with the credit card is you can choose to enroll in their rewards program. So the card would be my first choice personally because of the rewards.

Ok that's good to know. I knew about their secured personal card, I didn't know they had a secured business card. On a personal level I know the card can become unsecured if they see you are responsible with your payments, does the same go for the business card?

They had the secured card before but then they stopped offering it for awhile then just recently started again. They do pull hard on your personal credit so keep that in mind.

 

Only time will tell if they will un secure it.. When they offered the card before it did unsecure after about a year or so of goo s payments but those were different times credit wise.

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The difference between zero years in business and two years in business is HUGE as far as getting credit accounts in the business' name. Many bigger lenders don't want to even deal with an entity until it is two years old. This is just based on their application information.

 

The difference between two years and eighteen years is, in my professional opinion, not enough to warrant a significant premium for your shelf corp.

I totally agree and some lenders may ignore the start date of the corp if they see a change in ownership defeating the whole purpose of buying one. Start your own company fresh and take that money you would have spent on a shell corp and get yourself a secured business credit product to jump start your credit building.

 

I agree...just start everything from scratch..but I do have one question. What is a good secure credit product? Secured CC or secured LOC or secured loan? Which is best? and how much is a good amount?

Any of those would be fine.. Ideally $5k+ for a line or loan..Some banks have a min amount on secured loans so keep that in mind and some will pull your personal credit.. Wells Fargo has just restarted their secured business credit card and the min. to open that is $500 and goes all the way up to $25k. The good thing with the credit card is you can choose to enroll in their rewards program. So the card would be my first choice personally because of the rewards.

Ok that's good to know. I knew about their secured personal card, I didn't know they had a secured business card. On a personal level I know the card can become unsecured if they see you are responsible with your payments, does the same go for the business card?

They had the secured card before but then they stopped offering it for awhile then just recently started again. They do pull hard on your personal credit so keep that in mind.

 

Only time will tell if they will un secure it.. When they offered the card before it did unsecure after about a year or so of goo s payments but those were different times credit wise.

I bet it did turn unsecure. Times are definetly very tough now. All around.

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