Starting an LLC: Where to begin?
in Business, Accounting & Taxes ·
The plan is to incorporate an LLC to refine and market a specific product. I’d inject a starting capital of $6667 into it. Then, I’d look into lending those $6667—or whatever else is legally viable—to fund the formation of a second LLC dedicated to accounting services. From there, I’d use the $6667 from that business to pay for my accounting certification. That’s the gist of it.
Essentially, I could also borrow the funds to launch the first LLC, then once the loan is repaid, use that same cash to start the second one. My main question is: what are the legal implications if one LLC lends money to another, and is that even permitted? Also, can an LLC deploy its initial capital before it has generated any actual revenue? Specifically regarding the tuition funding part.
Basically, I’m trying to make the same pool of money work for multiple objectives. I’m really looking to... Does anyone actually follow my logic here?
Essentially, I could also borrow the funds to launch the first LLC, then once the loan is repaid, use that same cash to start the second one. My main question is: what are the legal implications if one LLC lends money to another, and is that even permitted? Also, can an LLC deploy its initial capital before it has generated any actual revenue? Specifically regarding the tuition funding part.
Basically, I’m trying to make the same pool of money work for multiple objectives. I’m really looking to... Does anyone actually follow my logic here?