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Podcast: Investor Connect Podcast
Episode: Startup Funding Espresso – Purpose of Family and Friends Funding
Description: Purpose of Family and Friends Funding Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Family and friend's funding is often used to start a business. Here are some key uses of funding at this stage: File the legal entity paperwork for an LLC, not a Delaware C corporation. You can file for a Delaware C later if the business takes root. This gives your business an EIN (entity identification number) with which you can open a bank account. Set up the accounting books with a low-cost internal solution. I...