I know you can start a LLC. Get an EIN. Open a bank account with B of A. Apply for a line of credit of about 20K. From what I understand its like they hand them out @ 14%. When applying for the LOC state its is for a trading company. Then a judge cant pierce the corporate veil if you blow your account. They say its fraud if you dont use the money for the intent you stated. Sign for the LOC as the president of XYZ LLC. That way you arent personally liable for the money. You made a honest attempt at the business. So as long as the bank knew what it was for they cant touch you for non-repayment of the loan.
|