I have formed a PLLC and plan to engineering consulting.
I previously retired from a government job and work about 30 hours per week also doing highway engineering.
I plan to quit my current job in the middle of next month and do consulting. I will not lease office space at the beginning since I plan to work out of other companies' offices.
I am trying to secure financing for the PLLC in case I do not have income for several months to pay myself like $4500 per month take home.
I have contacted an internet lender and he has mentioned that he can find me $ 70000.00 business loan
but I have to pay him 9.9% for his service/finding funds after I receive the money. I do not have to accept the loan if I do not like the terms.
I was going to send application but then I contacted the bank where I have the PLLC account. They gave me a credit card with a credit limit of $ 16000.00 six weeks ago. I asked banker if they could give in addition a loan like this internet business can find me for a fee. Bank told me they cannot. I asked banker if I default on the loan this business is trying to find on the internet, that if I am responsible or if it will be the PLLCs loss and I will not be liable. Banker told me that lender will probably will make me the guarantor and therefore I will be responsible to repay loan if PLLC defaults.
I have loan application and mentions loan conditions to be set up by actual lender. Business in the internet is going to provide me contacts from 2 to 5 lenders.