Learn About
Business Funding
Looking for more information about funding your business? You’ve come to the right place! This section of our website is designed to educate you and answer specific questions about business funding and the details involved in the process. From Rollover as Business Startups (ROBS), to SBA 7(a) loans, to Unsecured Term Loans, we’re breaking it all down so you have the information you need to get funded with confidence.
If you have any questions at all, you have several options:
1. Complete the form on this page to be connected with a Funding Consultant.
2. Check out the Get Funded and FAQ pages on our website.
3. Browse any of the below sections to learn more about your topic of interest.
Learn About
Business
Funding
Looking for more information about funding your business? You’ve come to the right place! This section of our website is designed to educate you and answer specific questions about business funding and the details involved in the process. From Rollover as Business Startups (ROBS), to SBA 7(a) loans, to Unsecured Term Loans, we’re breaking it all down so you have the information you need to get funded with confidence.
If you have any questions at all, you have several options:
1. Complete the form on this page to be connected with a Funding Consultant.
2. Check out the Get Funded and FAQ pages on our website.
3. Browse any of the below sections to learn more about your topic of interest.
Categories
Let’s Work Together
- We will prioritize your funding needs (or those of your client) to ensure excellent service
- We will consult, not sell, regarding multiple funding topics
- We will answer any and all questions to the best of our knowledge
Contact us
Let’s Work Together
- We will prioritize your funding needs (or those of your client) to ensure excellent service
- We will consult, not sell, regarding multiple funding topics
- We will answer any and all questions to the best of our knowledge
Contact us
Third Party Administration (TPA) Services
In a franchise or independent business, every benefit creates a position of competitive advantage. Tenet Financial Group offers you Qualified Retirement Plan Consulting and Pension Administration Services in an economical and customized approach, making it possible to seize every opportunity to build a formidable franchise or independent business.
Plan Design and Installation
Tenet Financial Group can provide you with our pre-approved volume submitter documents. We help you develop your qualified retirement plan for faster and more convenient implementation. Our consultants can personally work with you to assist in the plan design, ensuring it reflects your business specifications and objectives.
Takeover of Existing Plan
We will review your plan documents, participant communication materials and prior administration reports to interpret your plan provisions and ensure a smooth transition. This enables us to determine if any amendments are required for plan compliance and allows us to make recommendations regarding improvement.
Ongoing Administration
Tenet Financial Group provides all on-going annual services, including mandatory testing to demonstrate compliance, participant statements, employer reports, and signature-ready 5500 series tax forms for the IRS.
General Consulting
Retirement laws are complex. We believe an open line of communication is necessary to ensure an understanding of the provisions and governing regulations concerning your plan. Our consultants are highly-trained and invest considerable time working with the Internal Revenue Service, the Department of Labor and the Pension Benefit Guaranty Corporation: the governing agencies that regulate all employee benefit plans.
Self-Directed 401(k) Plans
A Self-Directed 401(k) is becoming the preferred method of financing new businesses or recapitalizing an existing business.
Self-Directed 401(k) Plan Design
- Overview of your organization’s history, type of business, management objectives, personnel policies, employee termination or turnover experiences and any human resource factors that might affect the plan.
- Interpretation of employee information (provided by your organization) to determine benefits and contributions under different plan strategies.
- Review of allocations using various formulas and benefit projections for defined contribution plans.
- Determination of government compliance of the plan (if customized).
- Design of plan specifications such as eligibility, vesting options, benefit or allocation formula, retirement dates and distribution methods.
Self-Directed 401(k) Plan Installation
Before you implement a new or amended Self-Directed 401(k) plan, it must be submitted to the Department of Labor (DOL) and the Internal Revenue Service (IRS) for approval, to assure the plan is qualified. Tenet Financial Group’s Self-Directed 401(k) plan has been pre-approved by the IRS. The qualification process is necessary to make the plan and trust operative, as well as guarantee initial plan approval under the appropriate IRS Code Sections. During Self-Directed 401(k) plan qualification and implementation the following occurs:
- Preparation of IRS qualification and Department of Labor approval documents (Form SS-4).
- Consultation as necessary with the Internal Revenue Service or the Department of Labor.
- Preparation of a Summary Plan Description of major plan provisions for employee distribution.
Self-Directed 401(k) Administration
- Calculation of minimum required and maximum tax-deductible employer contributions. “Top-heavy” testing is performed to satisfy compliance for plans that primarily benefit key employees (60% of benefits) and must meet requirements on minimum contributions and accelerated vesting.
- Preparation of allocation reports (defined contribution plans). Inclusions consist of summaries and plan financial statement similar to the valuation report listed above.
- Determination of minimum participation, coverage and discrimination testing.
- Preparation of Average Deferral Percentage (ADP) and Average Contribution Percentage (ACP) tests for all 401(k) plans. The ADP and ACP are non-discrimination tests. The amount of contribution for highly-compensated employees is limited by the average deferral percentage contributed by non-highly compensated employees under these test rules.
- Calculation and preparation of the vested balance and necessary disclosure forms for employee status changes (due to retirement, termination, disability, or death) for submittal to the employee. Distribution statements and 1099-R forms will be furnished for benefit distributions.
- Reconciliation of employee census information and plan financial statements.
- Perform an annual compliance review of written plan with actual plan operation goals and objectives.
Risks and Considerations
As with any financial decision, certain considerations and risks must be considered. Tenet Financial Group is committed to helping all of our clients understand these before moving forward with ROBS/401(k) Rollover Funding.
Investment Risk
Investing retirement dollars into a new business venture comes with inherent risk, much like investing in other businesses via the stock market, for example. If the business fails, the retirement funds used in the ROBS process will not be recouped. Tenet Financial Group encourages clients to carefully assess their risk tolerance and ability to cover costs if unforeseen issues arise.
Costs
ROBS plans with Tenet Financial Group cost an initial set-up fee of $4,995 and an additional $1,620 per year to administer the plan (plan maintenance, compliance, reporting, etc.). Additional annual associated fees, such as business valuations, should also be considered when reviewing ROBS as a means of business funding.
Additional IRS and DOL Reporting, and Plan Administration
401(k) Plans are monitored for compliance by the Department of Labor (DOL) and the Internal Revenue Service (IRS). The DOL focuses on employment rights issues, whereas the IRS enforces tax compliance. With a ROBS arrangement, you will have additional reporting requirements to the DOL and IRS; however, you can rely on your Tenet Financial Group ROBS plan administrator to ensure you’re in compliance every year.
As a leading Third-Party Administration (TPA) of thousands of ROBS plans, we understand the importance of keeping a C-Corporation and its ROBS plan compliant with IRS requirements. No client of Tenet Financial Group has ever been audited by the IRS due to our thorough, consistent review and administration of the plan.
Franchise/Business Funding Partners
Considering purchasing a franchise? Many successful business owners choose this route because it gives them instant access to a well-established business model and the support of a centralized brand. When you buy a franchise, you buy instant name recognition, which means saving the time and money you’d spend starting from scratch. Franchises have also perfected the techniques and skills required to deliver products and services in a way that nets optimal profit.
Rollover as Business Startup (ROBS) for Franchises
Tenet Financial Group specializes in helping prospective franchise owners explore Rollover as Business Startup (ROBS) funding as a way to kickstart their entrepreneurial endeavors in a relatively debt-free way. We’re masters of getting you funded, so you can open the doors to a new revenue stream that helps build your wealth.
Explore Franchising Opportunities
Wondering if franchising is a good fit for you, browse franchise opportunities at BizBuySell to see what’s available. It’s easy to get started. After you register, you’ll be able to request more information about your favorite franchises and talk with a franchise consultant about the details.
Once you’ve made your decision, contact Tenet Financial Group and we will help you find business funding. If you know what franchise you’d like to purchase, give us a call at 888-901-3335 and we’ll get you connected to a professional who can help you right away.
What our clients say about tenet financial group
Don’t take our word for it, read all about the success our clients have had over the years.
Franchisors We've Worked With
Ready to speak with a funding consultant?
Learning about business funding can be a daunting task when there’s so much to consider. Solution: fill out this quick form to request a call with a funding consultant.
We can’t wait to speak with you!
Contact us
Let’s Work Together
Learning about business funding can be a daunting task when there’s so much to consider. Solution: fill out this quick form to request a call with a funding consultant.
We can’t wait to speak with you!
Contact us
Learning Center
Our Learning Center is a great place to find information about funding and other business information and tips.
3 Must-Have Business Tools to Invest In
Small business owners are used to doing a lot on their own. The preparation and startup phases of your business probably required a lot of
