LLC - but no business?
by motomo10, Window Shopper
- Created: March 23, 2010, 2:18 pm
I purchased a franchise in 2007, AFTER I had the SBA committment from PNC Bank.
The bank pulled its financing from me right as I was getting ready to sign a lease. No reason was given. I have spent the last 2 years trying to find another bank to pick up the SBA loan, but with the banking industry getting so strict, I could not find one. I am now forced to try to sell my franchise or loose the $50k I used to buy into it, and I have to pay a $500 yearly fee for 2008 & 2009 Comm of Ma.
Is there any relief from having to pay this if I never got the business up and running and never made any money?
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