What Is an LLC Loan?
An LLC (Limited Liability Company) is a structure whereby the owners are not personally liable for the company’s debts or liabilities. LLC’s combined the characteristics of a corporation, partnership, and sole proprietorship. An LLC does not pay taxes-their profits and losses are passed through to members, who claim them on their tax returns.
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A Corporation Versus an LLC: What Are the Differences?
| Entity Type | Liability | Taxation | Maintenance |
| Limited Liability Company | Combines limited liability protection with a pass-through tax structure. | IRS rules allow LLCs to choose between being taxed as partnership or corporation. | The easiest entity to maintain with the least amount of formal annual requirements. |
| Corporation | Owners / shareholders have limited personal liability for business related debts. | Separate taxable entity, corporate profits among owners and corporation. | Meetings are required to maintain corporate status. Stock may be sold to raise capital. |
Source: mycorporation.com
Advantages and Disadvantages of Getting a
Business Loan as a Limited Liability Company (LLC)
There are no advantages or disadvantages to being a Limited Liability Company when it comes to getting business financing. AdvancePoint Capital is a Business Finance Marketplace that offers all available products regardless of your business formation. As with any business loan, it’s important to choose the best financing product for the job.
The 10 Best Business Financing Options for a
Limited Liability Company (LLC)
There are a ton of great loan options when it comes to small businesses or LLC establishments. Business owners looking to take advantage of loan options that don’t come from traditional avenues like banks can utilize alternative lending solutions like online lending to find their solution. Finding loans online is a great way for a limited liability company like yours to obtain the financing you need to grow. Now, you can certainly use personal loans as an alternative if your credit isn’t looking solid, but then you’ll be dealing with combining personal assets with company ones. If you’re looking to separate personal assets or real estate from your business and leave yourself protected in the case of default, business loans are your best option.
Below are 10 of the best loan options and financing solutions for your limited liability company (LLC) to get started.
Long Term Business Loans for an LLC
Business Line of Credit for an LLC
Small Business Administration (SBA) Loans for an LLC
Short Term Business Loans for an LLC
Equipment Financing for an LLC
Business Cash Advance for an LLC
Merchant Cash Advance for an LLC
Invoice Financing for an LLC
Purchase Order Financing for an LLC
Business Credit Cards for an LLC
What Types
of Lenders Work With an LLC?
- Traditional banks
- Marketplace Business Originators
- Online Business Lenders (Fintech)
- Long-Term Business Lenders
- Independent Sales Organizations (ISO’s)
- Equipment Financing Companies
- Invoice factoring Companies
- The Small Business Administration (some products require collateral)
- Private Lenders
- Hard Money Business Lenders
- Commercial Real Estate Lenders
