Well as I always say, you always learn something new. Apparently, New Mexico LLCs are exempt from filing annual reports. Yea, I know, CRAZY. So you can form an LLC in New Mexico, get the EIN and DUNS number and completely forget about it and have a perfectly good shelf corporation in a number of years. Forming an LLC in NW is also as cheap as $50 if you directly through the SOS(secretary of state).

I only learnt this because a client came to be to build a corp that he Inc’s in 2002 and I was amazed that they do not have to file anything.

There are also a number of Tax and Privacy advantages when forming an LLC in NW and you can view them at http://www.keepyourassets.net/nmllc.html.

GET MY EBOOK SHELF CORP SECRETS

Usually a Corp will get a little more credit per creditor than an LLC, but this situation is specifically to forming shelf corporations in NM..

In concluding, spending $50 to incorporate a NW corporation and waiting 2 years for it to age and selling your shelf corporation for a mere $500, will give a 900% return in 2 years. I know many of you may say that Shelf Corporations may not be popular or needed in the future, but I cannot see this happening. Even without using them for credit purposes, they are used for other purposes, like getting government contracts.

A shelf corporation is a corporation that has been put on the “shelf” to age. Typically, this corporation has not done any business previously and simply is there gaining age. In these more sophisticated times, myself and other shelf corp brokers, not all sell shelf corporations, but we also sell aged corporations. Aged corporations are not necessarily just on the shelf sitting there but they may be actually in business. This type of corporation is valuable once all previous debt has been paid off on time. This happens in a case where someone started a business and it did not work out but they paid their bills on time but could not generate revenue. Getting your hands on a corp like this is great.

In 2010, there are many brokers out there still claiming that you can get 100K in Cash Credit with NO PG. This is not going to happen with one corp. Nowadays, you may be able to get about 50K with no PG once you know what you are doing and work hard at it. You can also hey 100K in total cash credit if you have a solid fico score to pg  the corp. Without these key elements, this is not going to happen. So if you see anything that is advertising anything otherwise, it is a scam. Shelf Corp King seems to be one of the most hard working scammers out there. They are marketing and advertising really strong but if you simply read their claims, it is impossible.

In this age, I do not suggest that you pay more than $5000 for a shelf corporation unless you have a specific need  for a specific corporation. Shelf Corp Secrets is my new ebook on shelf corporations and you can have a look at shelfcorpsecrets.com for more details.

10k billme later
2k. Staples
2k. Office depot
1k. Exxon mobil
1k. Virgo
5k. Ikea
5k  best buy
1k.  Amazon
Notice that some of these accounts pull equifax, so he had to have a good paydex and intelliscore. He should go for a dell account next and then Sams Dsicover. Marc

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A couple weeks ago I got a shelf corp that was 3 years old, 3.8 mill in income listed on DnB and a 77 paydex. 12 trades and a high of 20K trade. I was debating who to apply for first and from what I am hearing, Key Bank will ease up in september and I had enough dell so I figured I will start with sears. I filled out the app and faxed it in and low and behold, I call on friday to get the good news. I was approved for $35K. That is the most sears credit I have seen to date so maybe credit it loosening up.

Marc

When previously looking at the older shelf corps, these corps had large tradelines, which will make a HUGE difference in getting approved but what we did not look at was an older corp with similar tradelines.

To do a little recap, DT’s corp is about 6 months old and has 5 tradelines reporting to DnB and the largest one was $100. The corp I am using now, let’s call it Consulting Shelf Inc, also has 5 tradelines but the largest on this one is a $300 line. This is not a big difference. I acquired this corp about 2 weeks ago and everything is set up right. I just applied to office depot and they needed me to call in with more information. I got a code 25 as many of us get. When I called in, they simply put me on hold and then I was approved for $1500. This is a huge differencet han DT’s experience. I will apply to a couple of other accounts in the coming weeks and let you know how it goes.

Marc

He got a 10 year old fl corp  that cost him around $500 and it already had a paydex of 80 with 7 trades and a high trade of $7500. He got everything set up properly and going and he got approved for a couple accounts so far. This is his email pasted directly into the blog.

$2k = Office Depot (got card)

$1k = Staples (card on it’s way)

$4k = Shell (card on it’s way)

$7k = Sears (card on it’s way)

    $14k total so far…..

Applied for Exxon, KeyBank, awaiting to hear from them both. I am yet to get a denial.

I simply write this to show you exactly what is being done with this information. If you will like to talk to this specific client, I have no problem letting you know who it is. He will most likely respond to this post.

Marc

With all the negative news with business credit availability, I will just like to let you guys know that there is still hope. Today I got a call back from Ford and I was approved for a new purchase or lease up to $50k with a $4000 down payment with a 7% interest rate. That is awesome in these times. This was done with a shelf corp. 14 years old, 80 paydex, 9 trades, $7500 high trade. The application can be found here.

Marc

This should be a lesson to all of us, the companies are getting tighter. I was even chatting with a reader online tonight and he said that exxon required a pg. When i looked at his file, he had 5 trades, $100 high and Inc’d in 08. A year ago that will be enough to get $2000 from exxon but you can see that business credit is getting harder to get, but shelf corp secrets will be here soon and it will deliver you from all this hardship.

Marc