Many of today's business owners are sole proprietors which means they are doing business under their individual names and have not established a Corporation, LLC, etc. In fact, according to the Small Business Administration, 73% of U.S. businesses are owned/operated by sole proprietors.
One of the major advantages to being a sole proprietor is that they are very easy to setup. For example, sole proprietors are not required to obtain a Federal Tax ID number, file Articles of Organization/Incorporation, create partnership agreements or record minutes from stockholder meetings.
If you need help setting up your new business LegalZoom.com is a great place to get started. They can guide you through the process of setting up your new business, file all the initial paperwork for you and even help you determine which type of business is best for you.
Just because your operating as a sole proprietor doesn’t mean you can’t create a unique business name either! You can create a fictitious business name, also known as a DBA (Doing Business As). All you must do is file a document creating your fictitious business name and your done. So, instead of putting on your cards “John Smith” you can put your company name “John’s Concrete Pumping”
So, if you don't yet have an LLC or Corporation but still want to apply for a commercial loan under your personal name and/or DBA then you're in luck. We can help!
Here’s how to do it: Call us at 509-888-1913 or Apply Online