Funding for business out of personal bank account?
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  1. #1
    Senior Member Reputation points: 52185 ADiamond's Avatar
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    Quote Originally Posted by bwadvance View Post
    Who does funding for a business operating out of his personal bank account he is "dba"
    if the account is a DBA account then it is very much fundable as a sole prop

    if it's just a personal account, i've heard of some companies using their personal guaranty as an excuse to pull out of a personal account and they get away with it. Who? i'll leave that up to you to research.
    Anthony Diamond
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    Quote Originally Posted by ADiamond View Post
    if the account is a DBA account then it is very much fundable as a sole prop
    If it is a DBA account, by which I will assume you mean titled in someone's personal name with a DBA notation on the second title line, then it is a business account and not a personal account.

    If DF does year end awards, I would like to nominate you for Most Consistently Reckless About Underwriting and Credit Risk.

  3. #3
    Quote Originally Posted by CreditGuy View Post
    If it is a DBA account, by which I will assume you mean titled in someone's personal name with a DBA notation on the second title line, then it is a business account and not a personal account.
    Agreed. This above described DBA account can be funded as a B2B transaction. If there is any question whether it's a personal or business account, get a bank letter-

    Robert S Bloink
    EVP of ISO Partnerships
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    Email: bb@cooperasset.com
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  4. #4
    Senior Member Reputation points: 52185 ADiamond's Avatar
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    Quote Originally Posted by CreditGuy View Post
    If it is a DBA account, by which I will assume you mean titled in someone's personal name with a DBA notation on the second title line, then it is a business account and not a personal account.

    If DF does year end awards, I would like to nominate you for Most Consistently Reckless About Underwriting and Credit Risk.
    The original poster's explanation of whether or not it was a dba account was unclear, hence my post. What did I say that was reckless?

    If DF does year end awards I nominate you most credible credit guy in the industry of credit giving - all hail credit guy - most troll-worthy user of DF to join us, another hopeful here from the IB/mortgage industries to school us all on how "it used to be" - if that's the case, you'll fit right in
    Anthony Diamond
    Underwriter

  5. #5
    Veteran Reputation points: 135672 Chambo's Avatar
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    Quote Originally Posted by ADiamond View Post
    if the account is a DBA account then it is very much fundable as a sole prop

    if it's just a personal account, i've heard of some companies using their personal guaranty as an excuse to pull out of a personal account and they get away with it. Who? i'll leave that up to you to research.
    you wanna take that risk with the FTC and Federal Banking Commission? Be my guest

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