I've already prepared and SBA loan package and have good credit, and I just wondering if incorporation will be a difference maker. The loan is only for $70,000 start up for Commercial Cleaning in witch I have over six years of experience. I don't want to incorprate and not recieve the loan and have the costs of business taxes and etc. Thanks for any input.
Answer:
You can incorporate as an "S" corporation which gives pass through taxation (income and losses are realized by owners of the company - not double taxed). Being incorporated gives a more professional appearance to the SBA but it's not necessary. You should consider it as a strategic move to create a seperate legal entity (the corporation) to protect yourself.
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