Have you heard that having a LLC is the new thing required by Torro?
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  1. #1
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    Have you heard that having a LLC is the new thing required by Torro?

    I wanted to signup with them since they do startups but, I was told that I needed a LLC or a EIN before I could. I'm new in the industry, I though a checking account and a Social Security number was still acceptable for payment of commissions.

    Clients are Clients, I'm not selling securities.

    Are they that big now that they will turn you away and business away, if you don't have a LLC or a EIN?

    What's your opinion?

    Thanks

  2. #2
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    Come on, man. Yes, you need a business.

    I’d imagine everyone in industry requires an EIN.

  3. #3
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    The majority of funders need their ISO's to have Corps or LLC's - same goes for us.
    Thank you,

    Lior Monus
    Business Development Manager
    CFG Merchant Solutions


    Direct: (646) 880-6764
    Cell: (516) 319-5826
    Fax: (646) 278-7322
    Lmonus@cfgms.com
    180 Maiden Lane New York, NY 10038

    www.cfgmerchantsolutions.com

  4. #4
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    Our entry barriers are way too low

  5. #5
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    Thank you for your answers, I don’t have any objection to getting any of those things. The company I started with did not require me to have them.

    @FCG if you need to give subtle insults to make you feel good, have at it, since it pleases me to know the people on the forum who are generally very pleasant and helpful are in a good emotional, and mental place.

  6. #6
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    Quote Originally Posted by T B Morgan View Post
    Thank you for your answers, I don’t have any objection to getting any of those things. The company I started with did not require me to have them.

    @FCG if you need to give subtle insults to make you feel good, have at it, since it pleases me to know the people on the forum who are generally very pleasant and helpful are in a good emotional, and mental place.
    Ah, you got me. My life sucks so I pick on people on DailyFunder. Damn, Instead of being a broker you should be a therapist.

  7. #7
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    who did let you sign up without a ein?

  8. #8
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    Quote Originally Posted by Michael I View Post
    who did let you sign up without a ein?
    They signed up with a broker who white labels pretending to be a funder.

  9. #9
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    Quote Originally Posted by WestCoastFunding View Post
    They signed up with a broker who white labels pretending to be a funder.
    that makes sense , they joined in feb this site and this is first time they hit that wall did not make sense

  10. #10
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    Quote Originally Posted by T B Morgan View Post
    Thank you for your answers, I don’t have any objection to getting any of those things. The company I started with did not require me to have them.

    @FCG if you need to give subtle insults to make you feel good, have at it, since it pleases me to know the people on the forum who are generally very pleasant and helpful are in a good emotional, and mental place.
    I actually 10000% agree with FCG, ANYONE can get signed up with just EIN and bank account. Not sure why you came back so hard

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