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jaycee0111

Reinstate my LLC or Start fresh

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Hello all. I established an LLC in 2014 that was later dissolved in 2016. I have the opportunity to reinstate it now for $516. I still have the existing bank account for that company. Is it worth reinstating this company or starting fresh? Will the fact that it was dissolved and then reinstated 3 years later affect my ability to get new credit or will it still be considered a seasoned LLC? It only has a bank account but no trade lines. Thanks in advance.

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6 hours ago, jaycee0111 said:

Hello all. I established an LLC in 2014 that was later dissolved in 2016. I have the opportunity to reinstate it now for $516. I still have the existing bank account for that company. Is it worth reinstating this company or starting fresh? Will the fact that it was dissolved and then reinstated 3 years later affect my ability to get new credit or will it still be considered a seasoned LLC? It only has a bank account but no trade lines. Thanks in advance.

The fact that it was administratively dissolved does not show in Standing status. It shows only if someone buys the history of filings. 

If you re-instate you will have a 5 yr old company which is much better from a credit standpoint. 

 

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13 hours ago, greendude said:

The fact that it was administratively dissolved does not show in Standing status. It shows only if someone buys the history of filings. 

If you re-instate you will have a 5 yr old company which is much better from a credit standpoint. 

 

 

Thanks for the response geendude. In Florida, reinstatement shows up in the public file of the LLC. So it will be seen. However, since I am changing my address after the reinstate, they would have to go to the bottom of the listing to see where they list the Annual Reports. I am still going to reinstate because I already have a seasoned bank account and domain name. I guess those have to be helpful somehow. Anybody else have any thoughts on whether this will hinder my CR building process?

 

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8 minutes ago, jaycee0111 said:

 

 

Thanks for the response geendude. In Florida, reinstatement shows up in the public file of the LLC. So it will be seen. However, since I am changing my address after the reinstate, they would have to go to the bottom of the listing to see where they list the Annual Reports. I am still going to reinstate because I already have a seasoned bank account and domain name. I guess those have to be helpful somehow. Anybody else have any thoughts on whether this will hinder my CR building process?

 

Here is an example of what I mean about the reinstatement showing up. http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=BRITECHCOATINGS P010000802240&aggregateId=domp-p01000080224-261c993b-18f0-4e8c-adec-94c84a0d1c67&searchTerm=brite box unlimited&listNameOrder=BRITEBOXUNLIMITED L140001156360

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Posted (edited)
5 hours ago, jaycee0111 said:

Will filing an amended Articles with a small change or some other insignificant filing overwrite the Last Event to something else ? No one's going to go into filings history to look at each filing, I would think.

Also, adiministrative dissolution/reinstatement should not be seen as a credit risk IMO. It hasn't mattered to me even for risk assessment while doing 10 yr leases in a previous business. My current corp was dissolved 2 times in 7 yrs :) . Previous corp was also dissolved 2 times that I remember. 

 

 

 

Edited by greendude

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On 4/16/2019 at 4:12 PM, greendude said:

Will filing an amended Articles with a small change or some other insignificant filing overwrite the Last Event to something else ? No one's going to go into filings history to look at each filing, I would think.

Also, adiministrative dissolution/reinstatement should not be seen as a credit risk IMO. It hasn't mattered to me even for risk assessment while doing 10 yr leases in a previous business. My current corp was dissolved 2 times in 7 yrs :) . Previous corp was also dissolved 2 times that I remember. 

 

 

 

Greendude yes, filing an address change will change that last event. I will actually be doing an address change soon. I think you are right, the chances of creditors looking that deeply is small. Plus, I guess the 4 yr old company will may override any of the reinstatement stuff. I am in the process of getting all my ducks in a row before I start applying for credit. Hopefully my LLC will be ready by next week to start on Net 30 accounts and 30-45 days to start apply for Business CC's. 

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23 hours ago, jaycee0111 said:

Greendude yes, filing an address change will change that last event. I will actually be doing an address change soon. I think you are right, the chances of creditors looking that deeply is small. Plus, I guess the 4 yr old company will may override any of the reinstatement stuff. I am in the process of getting all my ducks in a row before I start applying for credit. Hopefully my LLC will be ready by next week to start on Net 30 accounts and 30-45 days to start apply for Business CC's. 

Business CCs have little to do with your Net XX accounts and business credit profile. They mostly by your personal credit score. I didnt even have a business credit file with DNB and no tradelines anywhere and got approved for all Business CCs other than US Bank who raised the issue of a late payment on a personal acct 4 yrs ago. You business needs to be found in yellow pages, registration with State SOS should be current, have proof of physical address, have a website, your business phone on searching online should resolve back to your business name. Thats all they need besides a good personal score. 

Edited by greendude

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