Funding Designed to Build Your Business.
Just as businesses come in all shapes and sizes, so do the funding needs for entrepreneurs.
Our funding partner, Benetrends Financial, offers a full suite of funding options that are specifically designed to start your business with a solid financial foundation.
ROLLOVERS AS BUSINESS START-UPS
Also known as a ROBS transactions, this type of funding allows an entrepreneur to buy a new or recapitalize an existing business, tax-deferred and penalty-free, using their existing 401(k)/IRA. It’s important to understand that this is not borrowing against a 401(k). The new retirement plan has simply invested into his/her own business instead of investing in another company’s stocks or bonds. Because it allows individuals to use the savings in their retirement plan to fund a new or existing business, it is not based on a credit score. This strategy is often used to provide capital for the down payment on SBA loans.
SBA Loans are available for both business start-ups and existing businesses. They are highly flexible loans that can be used for “any legitimate business purpose”, including business acquisition, working capital, machinery, equipment, furniture, fixtures and leasehold improvements. Loan amounts range between $50,000 and $5million. The SBA requires that a lender charge no more than prime plus a margin not to exceed 2.75%. To be considered for an SBA loan, some type of collateral is required, and the borrower must have strong personal credit.
Whether you’re looking for Equipment Leasing, Securities Backed Line of Credit, conventional loans, or ancillary services, such as insurance, credit card processing or legal services, Benetrends has a solution.
What is your “Fundability”?
Pre-Qualify for funding to determine how much and what sources of options are available to you. Plus, you’ll have faster access to funding, allowing you to open your new business sooner.