We are here to help you.
Your investment goals are not impossible. Franchise Funding Solutions is the one-stop source that will help you explore your funding opportunities and find the best option for you. We are here to help you build your entrepreneurial dream.
Today’s generation has shifted their focus on saving their money and receiving funding in other ways. However, there are a lot of hurdles, paperwork, and phone calls to consider, not to mention high-interest rates. One of the many common alternatives is accessing traditional Individual Retirement Account (IRAs) or 401k money. Your retirement savings can be used to invest in businesses, both new and existing enterprises! If you have retirement savings and have not yet paid taxes on them, you can use them to invest in businesses – decide how much of your money to put into your franchise or business.
You are in charge.
With Franchise Funding Solutions, your dreams of being your own boss will come to life.
What are your funding options?
It is important for business owners to know which funding options they resort to using the choices they know. As crucial as these decisions are, the lack of a business owner’s grasp of funding options and alternatives may put their business at stake. Rollovers as Business Startups or ROBs put your 401(K) and IRAs into good use by utilizing the unexploited financial source for investments. This alternative’s advantage lies in the pretax nature of your IRAs and 401k – a key to opening your business without overthinking potential financial risks.
Getting a Small Business Administration (SBA) loan is also a viable option for small enterprises in need of financial assistance. An SBA loan is a loan backed by the government for small businesses. It can be used to pay for costs like starting up, growing, buying property, and other costs. This kind of loan comes from a private lender, but it is backed by the government. A bank or credit union, for example, is the place to go to get an SBA loan. The lender then asks the SBA to back the loan. If you don’t pay back an SBA loan, the government will pay the lender the guaranteed amount.
If you find the first two options difficult to grasp, a business line of credit can be used. With a business line of credit, you can borrow money for your company multiple times without having to worry about running out of cash. There are several reasons why small firms can benefit from a business line of credit, such as cash flow issues, seasonal sales cycles, or the requirement for access to working capital on a regular basis.
SBA and Conventional Loan
SBA 7(a) loans are government-backed loans developed exclusively for small enterprises to assist them to get their endeavor up and running quickly. In today’s environment, we understand the credentials required to secure SBA-backed funding.
- A personal cash inflow of 20% to 30%
- Extraneous (up to 100 percent of the loan amount)
- High credit scores (680+)
- Capability to repay
- Industry knowledge (2-5 years)
- Business Strategy
- Business Plan
Unsecured Term Loan and Line of Credit
We can help your business be successful by getting you term loans and/or revolving business credit lines. Money ranges from $25,000 to $500,000, and you can get a pre-approval within 2-4 days. Usually, you can get the money within 2 weeks.
- No monetary input is required.
- No collateral is required.
- No early payment penalties
- FICO ratings of 680 or above are required.
- $50,000 of adjusted gross income per year for last 2 tax years.
- No recent or significant disparaging items
Don’t know your credit history? Go to www.creditchecktotal.com to check your credit scores.
401K Rollover (ROBS)
You have the option and right to roll over your retirement funds and invest them in your own company by purchasing stock in your new firm, all tax-deferred and penalty-free. By doing this, you can kickstart your business debt-free!
- Get money quickly, usually in 3–4 weeks.
- Gain equity in your business and improve cash flow from the start.
- Controlling how much debt your new business takes on will help it make more money.
- When it’s time to sell your business, you can use the Exit Strategy Program with Tax Deferral.
- Boost the value and equity of your business
Funding Calculator by Franchise Funding Solutions: Small Business Loans