1 / 9

Should You Use Retirement Funds for Your Business?

Are you wondering if retirement funds are the right choice to finance your business? Discover the pros and cons, including tax benefits, long-term risks, and financial strategies to make an informed decision. Learn how this approach compares to business loans and how to protect your savings while funding your businessu2019s growth effectively and securely. <br>Discover the Best Business Financing Option!

michaelbosio
Download Presentation

Should You Use Retirement Funds for Your Business?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Loan vs. Retirement Funds: Which Type of Funds Should You Use to Finance a Business Here’s how to decide between withdrawing retirement savings, taking out a business loan, and finding other funding options when starting a new business.

  2. Types of business loans People are often afraid to apply for a business loan because they aren’t sure how these loans work or what options are available. If this sounds like you, then you are not alone. According to a recent survey, 60% of business owners admit not feeling knowledgeable about accounting or finances. • Term loans • Business lines of credit • Invoice factoring • Merchant cash advances • Microloans • SBA loans • Equipment loans • Invoice financing • Business credit cards

  3. Ways to finance a business with retirement funds In addition to traditional business loan options, there are also ways to finance a business using your retirement account. Dipping into retirement funds to start a business isn’t right for everyone, but it can be done successfully, and, in some cases, may actually be the best option. Taxable Distribution 401 (k) Loan ROBS

  4. Dangers of borrowing from your retirement to fund a business Just because you can use your retirement savings to finance a new business doesn’t mean you should. There are several dangers that come with dipping into these earmarked funds for your startup.

  5. Why a business loan may be worth considering for business financing Using retirement funds to start a new business is one option available to owners not interested in taking out a business loan. However, significant risks and personal liabilities can make or break your financial stability when going this route. For most entrepreneurs, the best choice for business financing is to look for a loan that meets your daily business needs and can help launch your company.

  6. Other ways to finance a business Besides retirement savings and business loans, there are other ways to finance your business dreams.

  7. Final thoughts Business financing isn’t limited to just business loans. Alternatives such as crowdfunding, government funding programs, investors, and personal loans can give you the cash you need to get your business off the ground. By Stephanie Colestock

  8. Why Choose Biz2Credit? Trusted partner for franchise funding Biz2Credit was founded in 2007 and has provided more than $10 billion in loans. Dedicated support team Tailored financing solutions

  9. Thank You

More Related