Anyone have advice about how to go about setting up a business bank account so SBA can transfer funds? Since it's an SPA, bank needs to transfer funds to an account owned by the business but if you technically haven't closed yet, then you don't own the business to set one up.
A suggestion from someone was to open an account with the owner and once the transaction closes, kick them out. Is there another way?
Share Purchase Bank Setup
by a searcher from Baruch College-The City University of New York - The Zicklin School of Business
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In SPA funds go to the shareholder, not to the business.