[PismoBruce]

I recently closed a deal for a client with EZ Capital. Now they say after the fact they can't pay me as a SP, I need to have an LLC or Corp set up. This has come up in discussions with lenders recently, but never after a close. Anyone have problems getting paid from this group?

[Lmonus]

Anything with EZ in it, is never EZ

[HDF]

Did you have to send them an invoice?

[ridextreme]

Did they sign the ISO agreement in your sole prop name?

[PismoBruce]

Yes they did.

[PismoBruce]

Actually upon further review I just filled it out in my name, not even my DBA, and they countersigned it.

[HDF]

Actually upon further review I just filled it out in my name, not even my DBA, and they countersigned it.

Who signed it specifically?

[Chambo]

If this is Yellowstone based, YSC will NOT pay a sole prop.

[PismoBruce]

Someone named Kevin Williams signed it. And I just had this conversation with Yellowstone the other day, they said they would process 1-2 without an entity set up, but I would need one. No issue with that.

[brokerCompany]

Be a professional and get incorporated. You can do it yourself online for cheap. Yellow guys are funny about stuff I had an LLC and they still questioned me about it

[Chambo]

All ISO's are subject to Legal review prior to approval. Been burned by too many small ISO's

Go online to your Sec of State, form an S Corp. Pay the freaking $150 or $175 for rush delivery and have it set up in 48 hours.

I know Kevin, and he may have been giving you a couple days to set up a corp, but he is not lying to you that Yellowstone will NOT pay out an individual

[WestCoastFunding]

Legalzoom will do it with rushed delivery for like $800. You can even break up those payments. Just get it done, and immediately setup a bank account so you can order checks (because many won't accept starter checks).

[ridextreme]

you can file yourself... download the forms from your state's website, and bring them to the courthouse/municipal building to get them stamped. LLC is easier.

[Chambo]

Legalzoom will do it with rushed delivery for like $800. You can even break up those payments. Just get it done, and immediately setup a bank account so you can order checks (because many won't accept starter checks).

Screw that....go to the Sec of State website and do it yourself. Download and print the documents, sign, send in CC info and fax back to your respective capital....and voila. 48 hours from concept to opened bank account and docs

[John Galt]

Why would you suggest legalzoom when anyone that can type can do it with their respective state website for a hundred dollars or so, LLC, Sub s, sub c, SP etc? It's not rocket science. Then call IRS, get the ein (if you are using one) and go to the bank with both. Job well done. No atty needed, no 2nd party processor etc.

[PismoBruce]

Not so easy in CA. BTW, Mika Solomon is the name of the current rep I am working with.

[John Galt]

Unless I'm missing something, it doesn't appear to be hard. http://bpd.cdn.sos.ca.gov/corp/pdf/articles/arts-gs.pdf

[tgabcmca]

Go to legalzoom. Very easy to do and pay with a credit card to get your llc.

[PismoBruce]

Is Kevin at Yellowstone as well? I am being recruited by a Yellowstone rep, who assures me CEO says they would pay on the first deal or 2 as a sole prop, until my entity and checking account are set up. Of course their paperwork screams otherwise, and I ask for written clarification from said CEO. Crickets so far. BTW, the ISO agreement is the exact one used by EZ Capital, with the name changed, even so much as to mention another company, EZBCA. Maybe a rep with syndication.