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ACC 220 Final Project Business Plan1

ACC 220 Final Project Business Plan1 - My Cash Express 1 My...

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My Cash Express Keturah Gantt Axia College My Cash Express 1
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The business I have created is called My Cash Express. This is a business that provides check cashing, bill pay, and short term loan services. This business will be classified as a Limited Liability Company (LLC). The limited liability company is a distinct business entity that combines the corporate advantage of limited liability protection with “pass-through” taxation, the method of taxation afforded to both general partnerships and S corporations. I chose this simply because of the nature of the business. Companies that are considered LLC allow the owner to be free of all responsibility relating to debt. If the business was to fail the owner would not be held personally responsible for any loss. Although I would be required to send annual reports to the government on my business, this is perfect because with this being a fairly brand new business there is room for failure and my personal finances should be protected. My business would simply cash checks, pay bills and lend short term loans. These services would mostly be used in urban neighborhoods, so that is where my locations will be. This will be a perfect place for individuals without bank accounts that need to cash checks. It also implements convenience because customers can save time and pay major utility bills as well as select others. The short term loans are given on the individual’s
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