Type: noun
Pronunciation: /lohn owt kum-puh-nee/
Also spelled or known as: Loanout Company
Plural: Loan-Out Companies
Related: Independent Contractor, Artist Corporation
What does Loan-Out Company mean? A corporation or limited liability company created by an artist, producer, musician, actor, or other creative professional to provide their personal services to clients.
Rather than contracting directly with the individual, companies contract with the loan-out company, which then “loans out” the individual’s services. Loan-out companies may provide tax planning, liability protection, and administrative benefits.
Loan-Out Company synonyms: Loanout Company, Personal Services Company, Artist Loan-Out Corporation
Example sentence: “The producer provided his services through a loan-out company.”
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