SHELF CORPORATIONS & AGED CORPORATIONS
NAME & INDUSTRY ISSUES
Shelf corporations with general names are easier to sell. We offer industry specific shelf corporations in the following categories:
RISKY BUSINESS NAMES AND BUSINESS CODES THAT LEAD TO LOAN REJECTIONS
There are certain industries that are perceived by lenders as extra risky. If your business appears to be part of one of these industries, you could be looking at automatic denial. At the least, you may be subject to stricter underwriting, as well as higher rates and less favorable terms. Lenders make a judgement of what industry your business is based on a couple of things.
First, they look at your business code; this could be a SIC or NAICS code. You need to find a way to avoid automatic denials based on your industry code or business name, while still being honest. Integrity is of the utmost importance, and a lack of it could cause future denials and even criminal charges.
What are SIC Codes
What are NAICS Codes?
Key Differences Between SIC and NAICS Codes
Codes and the IRS
Codes and Risk
Risk and Funding
What’s The Solution For Getting Funding With a Risky Code?
Business Names and Risk
Business Codes and Names are Not The End Game
What are the High Risk Industries
How Else are SIC and NAICS Codes Used?
Both codes have more purposes than allowing lenders to determine if your business is fundable. The Department of Revenue uses these codes for legislative purposes. These codes can also be used to extend government offered incentives. To keep taxpayers within a specific industry aware of changes to laws. These codes are used by the IRS for multiple purposes. They are used to determine product classes in relation to exchanges of property or depreciation. For comparative purposes, if your information does not track with others under your code, it could flag you for an audit. These codes can also be used by the SBA to categorize your business. This is especially true when it comes to applying for government contracts. You must meet standards for contracts and the SBA assigns a specific size standard to each NAICS code. The SBA also uses NAICS codes to determine eligibility for the Women-Owned Small Business Federal Contracting Program. The SBA keeps a list of qualifying codes.