Law Office of Yoel Molina, P.A.
  • Home Page for Business Attorney, Yoel Molina / Abogado Corporativo y de Negocios Yoel Molina
  • Traffic Ticket blog/ Blog de Multa y Tickets
  • Business Law
  • Derecho empresarial
  • Corporate & Business
  • Corporaciones & Negocios
  • T.V. Appearances, Awards, Affiliations, and Miami, Fl. Community Involvement of Business Attorney Yoel Molina/ T.V. Apariciones, Premios, Afiliaciones y Miami, Fl. Participación Comunitaria del Abogado Comercial Yoel Molina
  • Garantia De Reembolso De Dinero.
  • Client Video Testimonials of Business Law Attorney Yoel Molina / Video del cliente Testimonios del Abogado de Derecho mercantil Yoel Molina
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
  • Acerca de la Oficina de Derecho Empresarial y Corporativo de Yoel Molina / About the Business and Corporate Law Office of Yoel Molina
  • Miami Corporate and Business Client Services / Servicios para clientes corporativos y comerciales de Miami
  • Biografía del Abogado de Derecho Empresarial y Corporativo Yoel Molina
  • Contact Business and Corporate Law Attorney Yoel Molina / Contacte al Abogado de Derecho Comercial y Corporativo Yoel Molina
  • Blog / Who cannot contract?
  • Terms and Conditions of Legal Service Agreement
  • Spanish / Espanol Blog
  • Business Blog
  • General Counsel Landing Page
  • Business Law Subscription Plan Service
  • Nuestros Precios
  • Business Package / Landing Page. Spanish
  • Business Package / Landing Page. BILINGUAL
  • Business Package / Landing Page. English
  • Our Fees
  • Money Back Guarantee
  • Appointment Page
  • Free legal tips Ad
  • General Counsel Unlimited Advice Plan Interest Form
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
  • Home Page for Business Attorney, Yoel Molina / Abogado Corporativo y de Negocios Yoel Molina
  • Traffic Ticket blog/ Blog de Multa y Tickets
  • Business Law
  • Derecho empresarial
  • Corporate & Business
  • Corporaciones & Negocios
  • T.V. Appearances, Awards, Affiliations, and Miami, Fl. Community Involvement of Business Attorney Yoel Molina/ T.V. Apariciones, Premios, Afiliaciones y Miami, Fl. Participación Comunitaria del Abogado Comercial Yoel Molina
  • Garantia De Reembolso De Dinero.
  • Client Video Testimonials of Business Law Attorney Yoel Molina / Video del cliente Testimonios del Abogado de Derecho mercantil Yoel Molina
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
  • Acerca de la Oficina de Derecho Empresarial y Corporativo de Yoel Molina / About the Business and Corporate Law Office of Yoel Molina
  • Miami Corporate and Business Client Services / Servicios para clientes corporativos y comerciales de Miami
  • Biografía del Abogado de Derecho Empresarial y Corporativo Yoel Molina
  • Contact Business and Corporate Law Attorney Yoel Molina / Contacte al Abogado de Derecho Comercial y Corporativo Yoel Molina
  • Blog / Who cannot contract?
  • Terms and Conditions of Legal Service Agreement
  • Spanish / Espanol Blog
  • Business Blog
  • General Counsel Landing Page
  • Business Law Subscription Plan Service
  • Nuestros Precios
  • Business Package / Landing Page. Spanish
  • Business Package / Landing Page. BILINGUAL
  • Business Package / Landing Page. English
  • Our Fees
  • Money Back Guarantee
  • Appointment Page
  • Free legal tips Ad
  • General Counsel Unlimited Advice Plan Interest Form
  • About The Law Office of Yoel Molina, P.A. Miami Law Office / Sobre la oficina de abogados de Yoel Molina P.A. Oficina de Derecho de Miami
Search by typing & pressing enter

YOUR CART

Contact us now by video call! / ¡Contáctanos por videollamada!
Click here now! / Haz click aqui ahora!

Click here to signup to receive newsletters updates! / Haga clic aquí para inscribirse y recibir las actualizaciones del boletín de noticias!

5/10/2021 0 Comments

Making Profit with your LLC

The majority of limited liability companies (LLCs) require cash to be established. Read on to learn about some of the most frequent ways to get money.

Proper financing is an important part of forming a successful Limited Liability Company (LLC). Many new firms fail because they do not have enough cash to go through their first stages. A thorough, effective business plan might be a crucial first step in acquiring finances, demonstrating to potential investors and lenders your capacity to repay debts or achieve profitability over time. There are various possibilities for funding your LLC, and here are a few of the most important ones to consider

  • Examine Your Personal Assets. Many aspiring entrepreneurs resort to their own assets initially to fund their new enterprise, either by selling them or using them as collateral for loans. In some cases, you may need to dip into your personal resources or sell valuable personal or real estate, such as your house, to fund your new LLC. If you have equity in your house, you could consider taking out a home equity loan to help fund your company. But keep in mind that if you can't make your mortgage payments, you'll lose not just your new business, but also your house. You may be allowed to borrow money from your retirement funds to fund your start-up for a short time period if you have any. However, there may be significant withdrawal fees and tax penalties if funds are taken out and not returned within the specified time frames.
 
  • Informal Loans can be obtained by contacting your personal network. Almost every entrepreneur has told their family and friends about their ambition to establish their own company. The people in your family and social circles are the ones with whom you have the strongest personal bonds. Those who know you best are more inclined to invest their faith in you and their money behind your venture. This informal funding may be simple to get, but if the money is not repaid, it may cause long-term problems in your family and social ties. If you're okay with the risk, it could be beneficial to seek financial assistance from your personal network.
 
  • Inviting new members to your LLC team is a great way to expand your business. Adding more people to your team might be another way to fund your startup. Even if you wish to do it alone, consider the benefits of adding other LLC members or owners for financial considerations. You and your fellow members can combine your financial resources to assist your new company. You also expand your LLC's social network of business connections and, perhaps, future investors by interacting with other members. Aside from increasing the money available to your LLC, new members may also provide the opportunity to learn from the professional experiences of your fellow members.
 
  • For short-term financing, look into credit cards. Many people, including the founders of Google, may try to start their businesses with personal credit cards. Many credit card companies also offer business credit cards with low or no annual fees, attractive interest rates, and travel incentives and cash back depending on purchases made for the company. Without the paperwork of loan applications or business plans, credit cards may give instant credit. Because credit card interest can be extremely expensive, new business owners may wish to think of credit cards as short-term solutions for LLC necessities that should be repaid as soon as possible. Avoid accumulating huge amounts of long-term credit card debt, which might make this quick financing procedure very pricey in the long run.
 
  • Apply to Institutional Lenders for Conventional Loans. You may go the usual way and apply for a loan from a bank or a credit union. As part of the loan application procedure, you'll require a detailed business plan. Many traditional lenders are cautious of novice entrepreneurs, so don't be shocked if you get a lot of rejection letters. Borrowing against current collateral may increase your chances of getting finance, but it will almost certainly be a difficult road to take. If you opt to utilize your assets as collateral for a business loan, keep in mind that if you don't pay back the loan, you'll lose your underlying collateral.
 
  • Take a look at the grant and loan programs offered by the government. To assist you in financing your business, the federal, state, and local governments may provide special grant or loan programs through traditional lenders or non-profit intermediaries. These government-sponsored programs may focus on one or more of the following: 1) specific industries, such as alternative energy; 2) specific business owners, such as military veterans; 3) specific geographic locations, such as economically disadvantaged communities; or 4) specific dollar amounts, such as microloans, which can start as low as $100. The Small Business Administration (SBA) has an online search tool for locating loan and grant programs that may be applicable to your new business.
 
  • Peer-to-Peer Lending Sites can help you. Peer-to-peer (P2P) or social lending websites have emerged on the Internet in recent years. These peer-to-peer (P2P) platforms allow creditworthy entrepreneurs to seek finance from individual or institutional investors. These services let you to apply for a loan online, and investors with site accounts may select whether or not to support your planned business with interest-based loans. These peer-to-peer (P2P) websites are online alternatives to traditional lending institutions that are projected to increase in popularity as rapid and confidential sources of new company finance. Lending Club and Prosper are two well-known P2P services.

Yoel Molina, Esq. (AKA “Mo”)


​Feel free to join our WhatsApp group if you want to know more about his and more!​​
0 Comments



Leave a Reply.

    Author

    Yoel “Mo” Molina, I am a lifelong resident of Miami, Fl.  I am a graduate of Miami Senior High, Class of 1992, Georgia Institute of Technology, B.S.  1997 and University of Maine School of Law, J.D. 2001.  I have been practicing law in Miami Since 2001. I am a former training prosecutor in the Miami-Dade State Attorney’s Office.  I have experience in jury trials, appeals, and administrative hearings. I have appeared before judges across the State. My experience ranges from civil litigation matters, collection matters, foreclosure, business and corporate, contracts, real estate, leases and employment matters..

    Archives

    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    April 2021
    March 2021
    February 2021
    November 2020
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019

    Categories

    All

    RSS Feed


​Attorney Molina's BIO

Contact 

Criminal
Blog


Business Blog


Copyright 2018
​All Rights Reserved

"Mr. Molina has always been there for us with timely, reliable and competent advice. He is an important and valuable part of our team."  Corporate Client Eric Delgado, President of American International Export, Inc., a worldwide importer and exporter of brand name appliance parts.
"Yoel has been responsive and attentive to our company’s best interests and needs.   He has been a valuable resource to our company.  Any company that enlists his services would be in good hands-- including our own clients.” Corporate Client Gibran Flynn - Co-Owner and Founder of Eleva Solutions, Inc., the South Florida leader of outsourced HR, Staffing, Training, and Loss Prevention.
"My name is Anastasia Yecke Gude and I am the owner of Healing Hands Therapeutic Massage LLC.  In the process of my company’s growth and expansion, I suddenly found myself a few weeks ago in need of a 1099 contractor agreement, and I needed it ASAP.  As in, the very next day!  I contacted the Law Office of Yoel Molina and his assistant put me in touch with Mo.  I sent him what I had drafted up and he replied within a few hours with suggested revisions and clarifications, as well as a few insights I had not even considered.  I was thoroughly impressed by the quality of work he provided, especially considering the time crunch I put him in (sorry, Mo!).  I definitely recommend his services to anyone in need of a good contract attorney, and I will be calling him again for future work…hopefully in less of a rush next time!"