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Retirement Plans: A New Source for Business Capital
When it comes to owning and operating a business, finding the right form of financing can be an arduous task. Where do you find the necessary funding to seed a business, buy a new one, or raise additional working capital? Traditionally, business owners have used bank loans, SBA loans, personal loans, credit cards or home equity to satisfy their funding needs. The biggest downside to these sources of financing is the debt load and corresponding payments. Additional debt can impair your ability to access money in the event that “life happens.� This is why the idea of using retirement funds to inject cash into a business has been gaining popularity.
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Chuck on September 21st, 2005 7:03 am
The book IRA Wealth has an interesting case study on the use of IRA’s to fund the purchase of a business and it’s real estate.
Dustin Serviss on August 28th, 2008 9:24 am
If you are only looking for a small amount of business capital and you have some equity in your home you may be able to use a Manulife One. This is a flexible funding option that can allow you to pay off your mortgage very quickly and allow you the flexibility to live a better life. Not only can the payoff time be quicker, the interest paid can be far less than a traditional mortgage. To see more details logon to:
http://www.serviss.ca/manuoneintro.html
I have helped many people with this program and would be happy to answer your questions.
Take care
Dustin http://www.serviss.ca
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