2

I just want to start a business to qualify for a software license that requires a business entity. My purpose is only for Education, Research, and Development for a POSSIBLE business venture.

Addendum: I also wanted to apply for a line of business credit, but I have no plans for revenue. Would this affect my credit application if I plan on paying the debt with personal finances or investment from a future business?

Would this company just show a loss each year for the cost of the license renewal, or break even from invested cash to pay for the license?

  • Does the company that only issues software licenses to businesses require an EIN (Employer Identification Number, issued by the IRS), or can you just make up a business name like "Digcoal Consulting"? I've done that before... – RonJohn Sep 22 '19 at 5:04
  • Hmm. Good question. I shall report back when they contact me about purchasing the software. I think there was a field for Company Website on the Registration Form, and I also wanted to apply for a line of credit for the Business as well. I will add this to the original question. – Digcoal Sep 22 '19 at 5:28
  • A line of credit will be a personally secured one calculated on your credit/income, as it is new, small, etc - it will be mostly just like getting a credit card for you, only it will have the business name attached. Lenders probably won't even care much about the details of the business. If you want a loan larger than that, like a full business loan, it takes a lot more and usually demands collateral (lien against a house/land is typical). – BrianH Sep 22 '19 at 15:37
  • How much does the software cost? Is there another license level if you are not a business? – mhoran_psprep Sep 22 '19 at 15:50
  • Update: the company has an Entrepreneurial program that offers the suite for free for a year, so thanks for all the input. – Digcoal Sep 28 '19 at 20:31

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.