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Credit scores, including credit history, are one of the primary factors in obtaining the best SBA loan offers and terms. While a new business has no alternative but to rely on the personal credit score of the owner, it is good practice to build a business credit score...
In a recent edition of Multi-Unit Franchisee magazine, Rocco Fiorentino, CEO of Benetrends, addresses common questions on how entrepreneurs can finance growth, including: Who should I approach to help fund my business? What are my options? How much capital do I really...
It’s a common misconception that you can only use your retirement savings to purchase investments like publicly traded stocks, bonds or mutual funds. Actually, you can use most retirement plans to buy a business – tax-deferred and penalty-free. While this is great...
As you begin your journey to own a small business and finally realize your dreams of entrepreneurship, the effort to secure funding for your startup may seem daunting. While the thought of finally getting your business up and running is exciting, the time and energy...
Are you over the age of 50 and interested in starting a business? Called encore entrepreneurs, this is one of the fasting growing groups of small business owners according to the Small Business Administration (SBA). In fact, a recent Gallup poll survey indicated this...
Before choosing a profit-sharing plan or a 401(k), it’s important to understand what they are. All retirement plans are profit sharing plans. A profit-sharing plan is one where the employees don’t make contribution and the employer has the option to make...
In order to attract the best candidates, a franchisor must present the strongest case for their brand. Candidates need funding, not only for the initial phase, but as the business grows. This article focuses on how to ensure candidates are funded the right way in...
The following infographic illustrates how entrepreneurs can use their qualified retirement plan to purchase or recapitalize a business/franchise, tax-deferred and penalty-free. Highlights include the 4-step process of using a ROBS (Rollover as Business Startup) and...