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Forum nameStartup Stew
Topic subjectshares offered
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=119&topic_id=2020&mesg_id=2020
2020, shares offered
Posted by optimistic62, Tue Jan-19-10 08:07 PM
my wife and i created an s-corp where she is 51% owner i 49%. we invested 10,000 (bldg, eqip etc.) for our start-up pizzaria. we couldn't get the remaining 65k(a business credit line)due to our credit scores. so we invited a 3rd person to become an officer of the company therefore using their credit score (820) to obtain the final funding. our question is how much percentage should this 3rd person be given for helping us obtain a business credit line? we are not asing this person for any capital because without their credit score it would have taken much longer and a higher interest rate and possibly using our home to obtain the 65k on our own.also what control if any should his person possibly have?