I plan on opening a daycare, I formed an LLC already. The profit margin is projected to he 9%. I want to apply for an SBA loan but the lady at the bank said that I should be a corporation to protect from being sued personally, but I thought that is what the LLC does. I planned on filing my taxes as a sole proprietor, but now I'm wondering if I should form an S corporation. Please help. I have been receiving a ton of conflicting information.

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