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I started a Corporation to house my 401K funds so it could be used to start our restaurant. So the C Corp owns 40% of our restaurant which is set up as an LLC.
my wife and i own 25% and a partner owns the last 35%. I know it seems a little strange, but it was a way of using my 401K without penalties or taxes.
My question is does anyone know how i would go about getting a loan in the Corporations name to be used in the LLC.
Restaurants are very hard to get funded, we are doing pretty well but banks just will not talk to you about a restaurants.
thanks for any ideas
Ron