Requirement to gain access to funding, grants, and credit for your LLC

Watch this to hear the truth about getting business funding and credit for your LLC. I frequently speak to people that want to register LLCs so that they can gain access to funding and then buy a vehicle under the LLC, but that's rarely the case for a brand new business. It's not as simple as just registering an LLC to get funding from a bank or a grant from the government. You'll have to actually have a business idea and execute on that idea, typically by making money with the business, before before a bank would consider issuing you a loan and before the government would issue you a grant. Banks are going to want to see that your business is actually a business that provides a service or a product and makes money before they would even consider giving you a credit card or a loan, unless I guess sometimes you provide them with a personal guarantee. So yes, it is true that having an LLC can help you gain access to funding and credit, but in order to gain access to that, you are going to have to first of all have a business idea and then execute on that idea, typically by making some money first. So overall, don't think that you can just go register an LLC and then buy a G-Wagon with your brand new LLC, unless of course you actually have the money to buy the G-Wagon for the business.