If businesses have multiple owners/partners it would be better to start with the first majority business owner (Greater than 25% ownership). Then after the first majority business owner is complete with funding have them create an amendum to their operating agreement and shift the ownership so the next partner carries more ownership. In most cases of applications if you list addtional owners and they own greater than 25% they will pull the partners credit as well. It is better to keep the ownership split 80%/20% because then they do not have to be listed on the application.
How can we fund business owners with multiple owners/partners? CY - Lamar review.
Written by Corey
Last updated October 25, 2023