How can I get proof my company exists? There are 2 main reasons for proving that a business exists and also several ways to provide that proof.
The first is to prove it legally exists, and the 2nd is to prove it is active and generating revenue.
Consider 7 ways below to prove your business exists legally and also in practice.
To prove your business exists for business loans such as business cash flow loans, apply below now!
Call 919-771-4177 for more info.
How can I show proof my business exists and is Operating?:
Corporations provide their Articles of Incorporation. There are different types of corporations, so the names of the documents will be different depending on the type.
They are registered at the Secretary of State for each state. Since annual updates are filed, articles for the first year and the current year can be provided as both proof of the business, and time in business.
2. Sole Proprietors
Sole proprietors will need to provide a business license. Business owners must get a business license either with the city, county, or State. Check on local requirements.
Some localities require more than a local license. For example, a City and State both may require registration. Check locally first to learn how you must register in your area.
Partnerships usually need to show a partnership agreement. They also are filed with the Secretary of State. They usually list how much each partner owns.
4. Through Tax Returns
Tax returns prove your business has been paying taxes under a business name. Certainly no one would do that if they were not operating a business in practice.
As a result, most lenders and other organizations will accept business tax returns as proof of business or as additional proof.
5. Pictures of Location
Businesses with a physical location can provide pictures of their location. Retail stores and similar companies can take pictures of the inside of the business during business hours.
Lenders wanting proof your business exists may accept such pictures. They may also require an onsite inspection of the premises for loans higher than a certain dollar amount.
A website, facebook page, instagram, and other online presence may be used and accepted in part as proof a business exists. Businesses that are not real usually have limited or no online presence.
Businesses that have an extensive online presence only do so because of significant and active operations.
Businesses can provide customer contracts to prove they are in business and operating. As an example, these can be work or vendor contracts.
6. Lease Agreement
Current business location lease agreements are another way to prove your company is valid and open. Because many businesses rent space for their operations, only sudden out of business situations result in company closings.
Interested parties should call the landlord. They can confirm the lease agreement and the landlord can also be a witness that the business is active and rent is current.
7. Payroll Documentation
Companies with employees have payroll records they file with the city or state, or both. These are official records that prove the company is active and operating, so they can be provided to prove active operations.
The 7 ways stated here answer the question: how can I prove my business exits? Pick the most appropriate ways listed above and satisfy anyone requesting confirmation of your business.
FAQ: How can I show proof my business exists?
How can I prove my business exists?
Provide Articles of Incorporation for Corporations and a Business License for Sole Proprietorships. Partnerships should provide a partnership agreement.
Can I get a business loan operating under my own name?
You cannot get a business loan under your personal name. The business loan contracts are invalid since the business is not registered. As a result, lenders will not approve a request.
Do I have to get a business license?
You must get some type of license or articles of incorporation or the business legally does not exist. It does not matter if you have been operating the business without a license.
Businesses must show proof of business for business loans, vendor contracts and many other activities. Sometimes they must also prove their time in business, which is not as easy.
Submit the original documentation you provided to the State when the business opened as well as for the current year. This proves both the business exists and the full time in business since the start. Both are important.