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Old 12-17-2006, 01:04 PM
net net is offline
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Default Finance/Personal Credit/Business Liability

I am seeking to start a business service S-corp through self financing. This business should require low startup costs and low OH and operating cash. I have good and ample personal credit, but no cash on hand to start the business. Friends-and-family financing is out of the question.

Is there a way I can legally (from business and personal pov) finance this start-up using personal credit without being personally liable? For example, could a business accept all liability (including default) for a personal credit card used solely for business activity?

Does it matter whether the transfer of liability occurs before or after the actual transactions?

I have read many of the valuable threads in this and other fora and am quite clear regarding reimbursement for business expenses and arcadhia gave a quite good account of the steps and time factors involved in establishing business credit (http://www.small-business-forum.com/...ead.php?t=6402).

Thanks for the great information, all!
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