Montana LLC Vehicle Registration – Insurance
If you intend to finance your vehicle or have a vehicle with a lien, your lien holder must know that you’ll be registering your vehicle under an LLC. Some lien holders are willing to work with you, others are more difficult.
If your lender is unwilling to place the loan in the name of your LLC, then you may want to try financing with a bank more friendly towards allowing LLCs to borrow. We recommend two lenders below with whom who our clients have had good luck.
In addition, having us draft a Borrowing Resolution and Operating Agreement is often helpful in securing financing with your LLC.
An operating agreement governs the LLC’s operations and the rights of its members. It is analogous to corporate bylaws.
A borrowing resolution authorizes the members of your LLC to borrow money from a financial institution.
Lastly, it’s often helpful when seeking financing to obtain a federal tax ID number from the IRS, which we can do on your behalf. This helps substantiate the legitimacy of your business.
Newcoast Financial Services