We are in a tight financial market. Banks are tight-fisted and lending is at a premium. What if you want to start a new business or franchise opportunity and need funds? Have you thought about using your 401K?
Buying a new franchise or business today, is still a viable option for replacing your current job, or coming out of unemployment. You can invest in a franchise opportunity for as little as $14000.00 and as much as $1,000,000. But, if you have decided to own a new franchise you still need capital. Your 401K fund is an excellent way to start.
I feel that if you are willing to invest in other companies, why not invest in your own business? Using your 401K funds is an easy way to start. You might be thinking, what about the penalties and taxes? If you want to use your 401K funds for financing, then you need only to ask the experts. There are many companies available today, that will assist you with the transfer of your funds into a new business. Their fees start around $3995 and go up. In the case of 401K funds over $50,000.00, your fee will be worth it. Less than 50k is a different decision.
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Creative Financing - Use Your 401K For a New Business
