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06-09-2022, 12:44 PM #1Member
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Sole Prop
Can sole prop be funded with personal statements?
Also saying EIN is Social. Is this true for sole prop?
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06-09-2022, 12:47 PM #2Senior Member
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Yes Social is (EIN for Sole Prop). Several guys here will do personal bank statements. Do a search and a bunch will show up.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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06-09-2022, 08:42 PM #3Senior Member
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No merchant cash advance company will fund this for legal/liability reasons.
Originally Posted by Olderguy
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06-09-2022, 09:53 PM #4Senior Member
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I would not suggest anyone fund a personal bank account.
Marcus Clapman
Capybara Capital
marcus@capybarausa.com
www.capybarausa.com
646-708-5986 (Text Friendly!)
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06-09-2022, 10:30 PM #5Senior Member
Reputation points: 40937
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- Dec 2016
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To piggyback on this, I made this mistake once years ago, thinking that it was actually just a business account (old school credit union so it was a bit ambiguous). Cleared 10 or so debits, then right after, got a massive processing clawback of every cleared debit from weeks prior due to it not being a commercial account. Merchant went MIA right after and I got stuck holding the bag. Do not recommend.
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