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Corp LLC Partnership Individual Other

Corp LLC Partnership Individual Other 2025

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The document is a Commercial Credit Application intended for businesses seeking credit from ProBuild Holdings LLC. It collects detailed information about the applicant's business, including legal name, type, financial references, and ownership details. The application outlines the terms of credit extension, responsibilities of the applicant, and includes a personal guaranty section for business owners. It emphasizes that the credit is for commercial purposes only and complies with federal regulations against discrimination in credit applications.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is an LLC a corporation or partnership or individual?

Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation.

Is an LLC technically a corporation?

The Articles of Organization will note each of the LLCs owners, also called members. If youre the sole owner, youll form a single-member LLC. If there are multiple business owners, youll form a multi-member LLC. Multi-member LLCs must get an Employer Identification Number (EIN) from the IRS.

Is an LLC a corporation, partnership, or individual?

LLC is not a type of corporation, although it does share a number of similarities. For example, when you form an LLC, you are forming a company with its own legal existence separate from its founders and members (as the owners of LLCs are called).

What are the four types of business?

LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners). Non-U.S. citizens/residents can be members of LLCs; S corps may not have non-U.S. citizens/residents as shareholders. S corporations cannot be owned by corporations, LLCs, partnerships or many trusts.