Now more than ever, lenders want borrowers to have “skin in the game,” and sometimes that is the biggest difficulty. For entrepreneurs who want to preserve their available cash (or might not have enough cash) but have pre-tax retirement funds, a Rollover could be the answer! By Diane Rosenkrantz
At Tenet Financial Group, we like to tell our clients that franchise funding is not “one size fits all.” Because of our deep knowledge base and experience, we can attest to this statement and actually create opportunities for franchise buyers to understand every available option through our consultative approach. By Jodi Rowell
Did you know you can use your existing retirement savings to fund a franchise without tax or penalty from the IRS? This process – known as a 401(k) Rollover or ROBS (Rollover as a Business Startup) – could be an excellent option if you find yourself agreeing with any of these statements. By Jeff Waldera
One of the most appealing aspects of being a franchise owner is having the freedom to make the best financial decisions for yourself and your business. While funding options may seem endless, some of these options offer more freedom than others. By Jeff Waldera
If anything good came out the pandemic, it’s the realization that life is fleeting and we have to make the most of our opportunities when we have them. Being an “opportunity-grabber” is definitely a common trait among entrepreneurs. By Symara Rog
Franchise buyers who choose to capitalize their business with a Rollover as Business Startup (ROBS) can’t just jump right in. Setting up and administering a ROBS structure requires knowledge of complex legislation and IRS requirements. By Max Mawhirter
Small Business Administration (SBA) Express loans are a simple way to receive expedited, amortized government-guaranteed financing for a small business or franchise needing low-dollar funding. While the SBA 7(a) program offers up to $5 million in loans, Express loans are $350,000 and less, with most borrowers looking at $150,000 or less. By Symara Rog
Some may think of this question as the proverbial ‘chicken or the egg’ dilemma. But, the answer is quite simple: one should consider both the franchise and financial options at the same time. By Diane Rosenkrantz
Most people begin planning their resolutions in the days leading up to New Year’s (or even a few days after). But for business owners, resolutions should be planned and prepared for, especially if establishing stability, building a financial safety net, scalability and growth are on the list. By Kelly Krueger