Newbie with a 'Shelf' question

[OhBoyOhBoy]

What is really the best thing about a shelf corp? You get there age, which goes with good credit? Do they come with credit established? How do you find out? And i have read that someone bought one Ebay, how'd you verify that? Can you buy a shelf corp and then have some sort of minor biz listed under it and use the corp for biz credit and tax stuff?

[OhBoyOhBoy]

Bump!

[BizCredit]

IT DOESNT COME WITH CREDIT.

 

JUST THE AGE HELPS THE COMAPNY SINCE ITS "BEEN IN BUSINESS FOR AWHILE"...

[cwhit70072]

Hi,

 

I was just reading the last comment and I would like to add a correction. Some shelf corporations DO come with credit. In fact you can buy some shelf corporations with up to $5 million dollars attached to it in corporate bank credit. A lot of information is hidden, so what you will have to do is contact several companies in Las Vegas, Nevada that sell shelf corps and ask to speak to their manager or attorneys. They are there, but you have to ask. What are the costs? Well, I bought one for $20K that had a $300k line of bank credit attached, NO PG. The $5 million one is rare, like once every three months, that one was going for $45K. Again ask the people with the shelf corps, just don't take surface answers. Shelf corporations are involved in big business and you can get one. Also there are shelf Public corporations that you can buy that have lines of credit and money in the bank. These can be found on the Toronto or Vancouver stock exchange. Use Google to look for them.

[BizCredit]

Hi,

 

I was just reading the last comment and I would like to add a correction. Some shelf corporations DO come with credit. In fact you can buy some shelf corporations with up to $5 million dollars attached to it in corporate bank credit. A lot of information is hidden, so what you will have to do is contact several companies in Las Vegas, Nevada that sell shelf corps and ask to speak to their manager or attorneys. They are there, but you have to ask. What are the costs? Well, I bought one for $20K that had a $300k line of bank credit attached, NO PG. The $5 million one is rare, like once every three months, that one was going for $45K. Again ask the people with the shelf corps, just don't take surface answers. Shelf corporations are involved in big business and you can get one. Also there are shelf Public corporations that you can buy that have lines of credit and money in the bank. These can be found on the Toronto or Vancouver stock exchange. Use Google to look for them.

 

 

so you bought a corp for 20K with a $300,000 line of credit? with suppliers or "cash" line of credit?

[javaowl]

Hi,

 

I was just reading the last comment and I would like to add a correction. Some shelf corporations DO come with credit. In fact you can buy some shelf corporations with up to $5 million dollars attached to it in corporate bank credit. A lot of information is hidden, so what you will have to do is contact several companies in Las Vegas, Nevada that sell shelf corps and ask to speak to their manager or attorneys. They are there, but you have to ask. What are the costs? Well, I bought one for $20K that had a $300k line of bank credit attached, NO PG. The $5 million one is rare, like once every three months, that one was going for $45K.

 

:shock:

[redrover]

Hi,

 

I was just reading the last comment and I would like to add a correction. Some shelf corporations DO come with credit. In fact you can buy some shelf corporations with up to $5 million dollars attached to it in corporate bank credit. A lot of information is hidden, so what you will have to do is contact several companies in Las Vegas, Nevada that sell shelf corps and ask to speak to their manager or attorneys. They are there, but you have to ask. What are the costs? Well, I bought one for $20K that had a $300k line of bank credit attached, NO PG

 

This question is for anyone who can answer, but I think answers will help everyone.....I have a C corp, with an 80 Paydex score, I have 50K in merchant credit, but I am having a hard time getting Bank lines of credit because of a IRS Tax lien against my Equifax, Experian and Transunion accounts. How can I get a line of credit and from what bank and without a PG? Everyone asks for to look at my credit report, but there has to be a bank that just wants my business. Can anyone help? :-(

 

which one is the case?

[rixflix]

javaowl - roflmao!

[OhBoyOhBoy]

Bump

[CartoonGuy]

Now this is a thread worth fighting for! Amazing what I'm learning!

[craigg]

This thread should be locked down. No one is going to sell you a free & clear shelf company with a $5Million line of credit for $45k. The going rate for a shelf company with no credit is $1000 for each year of age plus the costs to maintain the company. A 10 year old shelf company could easily cost you $20K and that is for the shell only...no credit. If the 10 year old comapany has a bank account with $100K in unsecured credit I would expect to pay $40K - $50K for this company.

[williambyrne]

This thread should be locked down.

breeeeeze only locks down threads when breeeeze's 'n buddies are going down the toilet in debate.

[williambyrne]

This thread should be locked down. No one is going to sell you a free & clear shelf company with a $5Million line of credit for $45k. The going rate for a shelf company with no credit is $1000 for each year of age plus the costs to maintain the company. A 10 year old shelf company could easily cost you $20K and that is for the shell only...no credit. If the 10 year old comapany has a bank account with $100K in unsecured credit I would expect to pay $40K - $50K for this company.

Funnny about that. I bought one for a little more in '98 but I don't see these available anymore. Or am I missing something?

[craigg]

Are you saying that you can't find a place that sells shelf corporations or that you're looking for one with credit already established?

 

This thread should be locked down. No one is going to sell you a free & clear shelf company with a $5Million line of credit for $45k. The going rate for a shelf company with no credit is $1000 for each year of age plus the costs to maintain the company. A 10 year old shelf company could easily cost you $20K and that is for the shell only...no credit. If the 10 year old comapany has a bank account with $100K in unsecured credit I would expect to pay $40K - $50K for this company.

Funnny about that. I bought one for a little more in '98 but I don't see these available anymore. Or am I missing something?

[williambyrne]

Are you saying that you can't find a place that sells shelf corporations or that you're looking for one with credit already established?

I see them all over the place but I haven't seen one with substantial age and CL from a relaible source as per your quote "If the 10 year old company has a bank account with $100K in unsecured credit I would expect to pay $40K - $50K for this company." Think about it, you buy the corp with a 50K loan until you tap the 100k LOC, pay back the 50k.

Edited July 4, 2006 by williambyrne

[LKH]

This thread should be locked down.

breeeeeze only locks down threads when breeeeze's 'n buddies are going down the toilet in debate.

 

You're really beginning to bug me with your Geronimo and your comment is a complete lie and you know it. Be careful.

[craigg]

LKH,

 

Don't include me in your fight. I just call em as I see em.

 

Williambyrne,

 

I actually have a couple of shelf companies that I don't use for which I could sell under similar terms. The only down side is that I have to perform reasonable due diligence to insure that the person assuming the company is doing so to build a business and not for the purpose of just grabbing the cash and running.

 

This thread should be locked down.

breeeeeze only locks down threads when breeeeze's 'n buddies are going down the toilet in debate.

 

You're really beginning to bug me with your Geronimo and your comment is a complete lie and you know it. Be careful.

[williambyrne]

Williambyrne,

 

I actually have a couple of shelf companies that I don't use for which I could sell under similar terms. The only down side is that I have to perform reasonable due diligence to insure that the person assuming the company is doing so to build a business and not for the purpose of just grabbing the cash and running.

Interesting, btw, are these operating biz and you don't want to see the biz or folks get hurt or is this an ethical consideration?

 

Are you meaning taking a CH7?

[LKH]

LKH,

 

Don't include me in your fight. I just call em as I see em.

 

Williambyrne,

 

I actually have a couple of shelf companies that I don't use for which I could sell under similar terms. The only down side is that I have to perform reasonable due diligence to insure that the person assuming the company is doing so to build a business and not for the purpose of just grabbing the cash and running.

 

This thread should be locked down.

breeeeeze only locks down threads when breeeeze's 'n buddies are going down the toilet in debate.

 

You're really beginning to bug me with your Geronimo and your comment is a complete lie and you know it. Be careful.

 

My comments were directed to williambyrne and I think you were aware of that. And understand there won't be any fight.

[breeze]

cwhit has had his posting priviledges revoked for a long time - he was trying to sell business LOC's. Most of his posts were baiting people into writing him to find out the (probably made up) details, at which point he attempted to "sell" the mark business credit.

 

This thread is over a year old.

 

As far as buying a corp that already has credit, they want cash up front, prior to the transfer of ownership.

 

since people are latching onto the cwhit, bizcredit posts for this kind of info, I am going to close the thread so this doesn't happen again.

 

If you see a cwhitt post, take it with a grain of salt.