Buying Shelf Corps

Along with other myths out there, people are told that aged shelf corps will help to solve their funding problems.At one point in time(long ago)that was the case. In most cases these corps were not set up properly for the purpose of credit just age. It looks much worse to posess a 10 year old corp that has no buisness financials nor filed any taxes or hired any employees. there is no sound lendability there. There isnt even a real reason to even consider funding. This is the way most of these companies structure there shelf coporations. When buying a shelf corporation, make sure that is at least appears to be a functioning company.Lenders will look at previous business activity as well as a wide variety of factors. They will look for the number of employees and check to see if you have submitted any past witholdings to the IRS. In short, buying a simple shelf corp with age just wont cut it. Even if it has some credit attached.

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