If you’re an entrepreneur who plans to make 2019 the year you finally pursue your dream of business ownership, funding said business is a primary hurdle you’ll need to clear first. If you can answer, “Yes!” to any of the below questions, a ROBS (Rollover as Business Startup) should definitely be a funding option you consider:
- Do you have $50,000 or more in pre-tax retirement funds (such as a 401(k), IRA, Keoghs, Thrift Savings Plan, etc.)? Are these retirement funds with a prior employer?
- Does your lender require a certain amount of non-borrowed equity injection to accompany your business loan – such as an SBA 7(a) loan?
- Do you need access to working capital to cover expenses like salaries, inventory and equipment for the first few months or even first year of business?
- Do you want to start your business with increased equity and less debt?
- Do you need fast funding?
ROBS funding plans – often called Self-Directed 401(k)s – allow business owners to invest in their businesses without taxable penalties in addition to taking advantage of multiple tax benefits as well. Tenet Financial Group has designed, installed and manages thousands of such plans for its clients, and we can help you too. Contact Tenet Financial Group at 888-901-3335 x. 9 and speak with one of our Senior Consultants today!