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Old 11-21-2016, 04:10 PM
 
578 posts, read 455,394 times
Reputation: 504

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Our business is getting funding, as my girlfriend(hopefully wife one day) is not only my business partner/co-signer but i have agreed to let her own a certain percentage of my business/company. Now however when I first registered my business or getting the EIN number i listed as sole proprietorship and according IRS I do NOT have to change or get a new EIN number even though we formed general partnerships and she has signed(both of us) partnership agreement(which has been filed with the state/attorney). Now I don't know when the funding company reviews our documents what they will say,they have approved of HER credit(not mine they only viewing her credit as i have little credit) and her CREDIT is excellent(700)+ so will our business be approved? or will they only consider it one person? I mean she's also the owner so im interested in knowing or maybe im confused. If someone can explain this to me please do.
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Old 11-23-2016, 09:51 AM
 
Location: NE Mississippi
25,384 posts, read 17,044,373 times
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I can't answer for the "funding company", whatever that is, but I can offer this:

When my wife and I owned a business we owned it together. I owned 100% and she owned 100%.
That's actually a difficult concept for younger people who may never have been married, but I'm telling you being married is a whole lot different than being in business "with someone who someday will be my wife".
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Old 11-23-2016, 10:42 AM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,210 posts, read 80,386,269 times
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Regardless of who owns it, the funding will depend on other factors besides personal credit ratings. They will normally require two years of profit loss statements, tax returns, checking account statements, collateral, and they will consider how long the business has existed. Typically a business that gets the loan doesn't really need it.
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