Waiting on the business name Mercantile Registry

My business consultant called and says the plan looks good. Everything seemed to fit and he could see no wild figures. He hasn't finished going through it but says he'll be ready to go forward with paperwork when I receive the business name confirmation. He confirmed my choice of Sociedad Limitada (SL=LLC). Since I expect to have new capital partners enter the company within the first year, this juridical form allows for the most flexibility.

Once the business is formed, it will be possible to sell shares in the business to new investors, at the price I set, keeping at least 51% of the shares, in order to remain in control. Another way to go would be to expand on the original business capital. In any case, the company will be formed as a LLC with a single shareholder and then become a multi-shareolder LLC with the first six months to one year.

I'm now waiting for the answer from the Mercantile Register about the business name. Of the three I submitted, they'll register the first one in the list that is not already taken. I should know which name I keep within a week or so. The next step will be to register the business with the notary (asesor= castellano).

The business consultant also counselled requesting a government-backed business loan (ICO) from a local bank as being the best way to go. The original capital from personal funds will be the minimum to set up business, reducing personal risk in case the plan does not unfold as planned.