A Limited Liability Company (LLC) is often described as the combination of a partnership and a corporation. This is because an LLC combines the tax advantages and management flexibility of a partnership with the liability protection of a corporation.

Rofkahr Consulting offers a three-hour workshop designed to to inform lending officers and credit administration personnel about the LLC structure. The course is not designed to provide a legal interpretation of the LLC format but is prepared for those individuals who need a sound general understanding of what to look for, what is needed, and where information may be found to adequately understand the LLC, perfect liens against the LLC, and do financial analysis of the LLC.

The LLC form of ownership and operation has grown substantially since its adoption by the the state of Arkansas. Surrounding states have implemented similar formats. As you are probably aware, most new entities adopt the LLC structure. However, you may not be aware that an LLC may operate as a Limited Partnership, General Partnership, Chapter C Corporation, Sub-chapter S Corporation, and a Sole Proprietorship. Also, what should an LLC do to prevent someone from “piercing the veil” of liability protection.

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