| 06 December 2011
shelf corporation with credit lines – Do you want to learn more about “shelf corporation with cr...shelf corporation with credit lines – Do you want to learn more about “shelf corporation with credit lines”? If so then this article below may be exactly what you have been searching for…
Corporate shells are “shelf corps,” as they are known, that are also companies that have already been formed. These types of companies usually do not have shareholders, officers or directors (unless required to be filed to maintain good standing). They generally have no assets or liabilities. Such an entity is analogous to a new home that has been built and is ready for you to occupy.
In most cases, a shelf corp has never conducted business activities, have no debts, liabilities or bank accounts. Once the shelf corp has aged, they are sold to individuals interested in owning an established company with a clean history. Shelf Corps with credit, make it easier to build corporate/ business credit, qualify for business loans, and opportunities to obtain business contracts.
It is important to choose the age appropriate to your needs. For a building contractor or consulting company the number of years in existence is important to the clientele. If you have been in the construction industry for 15 years, for example, obtaining a 15-year-old corporation may make sense because it corresponds with your time in the business. In order to obtain some contracts, the typical business age requirement is two years. That may not be the only factor in obtaining a bidding agreement, but it may be one of the many check-the-box items, especially, as we mentioned, when your corporate age and business age match one another. Moreover, some report that for a business that wants to build corporate credit, the older the better.
Once you have purchased a shelf company, it can enable you to establish an immediate history, instant credibility and business image. You can also bid on state and government contracts. These contracts generally have minimum longevity rules for companies that are allowed to bid on their contracts.
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