Register an LLC
Many people go striaght to LegalZoom or their local attorney but after registerring 8 businesses and selling 3 of them, I’ve tried every option you can imagine. Eventually, I found Atlas by Stripe. Before you click the link, here is why you should consider it.
Why use Stripe Atlas?
A one-time, $500 flat fee will get you:
An LLC registerred in the state of Delaware
(the most corporate friendly state in he US). You can do this while living anywhere in the US.
A registerred agent in the state of Delaware
A legal business address in Delaware with the registerred agent
Your entity will be published in accordance with your state and Delaware state laws
A business checking account with Azlo Bank
which is from my experience, the best bank for startups. It’s an online bank built on top of BBVA Compass. If you’re worried about not having a physical branch, nothing is stopping you from registerring with a local bank as well, but I’m sure you’ll find that there is nothing you can’t do with Azlo. I’ve used Azlo personally since long before Stripe Atlas existed.
A debt-collection friendly bank that won’t discriminate against the industry.
A built-in system for sending remits electronically or as physical checks right from the online portal
Access to small business lending partners such as Kabbage and Mission Street Capital
A payment processing account through Stripe
This will allow you to accept credit cards immediately. It isn’t a high-risk processor, so this is just a starting point to build up history, but it should get you through the first 3 months until you can apply with a proper high-risk processor.
All legal business documents will be mailed to you upon approval
You will get your EIN from the IRS and your paperwork to verify the Department of State. You don’t have to lift a finger once you apply.
You’re up and running in about a week.
This program was built for startups so they don’t request too many documents, only what they absolutely need.
Access to customer support
with specialists who will assist you with the startup process and answer your questions.
to discounts and programs for startups such as Digital Ocean, or Amazon Web Services for website hosting, various accounting platforms such as Xero, or other solutions for managing investments and ownership documents.
Where do you start your journey to starting a debt collection agency?
Full disclosure, that is an affiliate link which has benefits both-ways.
If you sign up using that link, you will save upto $500 in payment processing fees over the course of the first year as well as notifications for when you may be eligable for grants.
By using that link, Stripe may provide me with discounts on payment processing or credit for partner services such as AWS.