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The Business Credit and Financing Show

The Business Credit and Financing Show is produced by Credit Suite and hosted by Ty Crandall, business credit expert and best-selling author of Perfect Credit and Business Credit Decoded. Each week we talk about the business growth strategies that matter most to entrepreneurs. Listen in as we discuss the secrets to getting credit cards, loans, and credit lines to start and grow your business, even when you think you can’t get financing at a bank. And enjoy as we talk with seasoned business owners, coaches, influencers, and industry leaders on a variety of business growth strategies from how to market, hire, scale, increase revenue and profit, and the nuts and bolts of running a highly successful business. Listeners leave every 30-60-minute episode with actionable information you can use to start, grow, and fund a highly profitable business.
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Jun 28, 2022

How to Use a Solo 401 (k) to Fund Your Business

Daniel Blue is the President of Quest Education, a company that helps entrepreneurs obtain capital for their companies, pay off high-interest debt and use self-directed retirement accounts to invest in alternative assets With over 10 years of educating small business owners, Daniel has a knack for helping individuals get creative with their finances that leads to life changing results.

 

During the show we discuss:

● What a “solo” 401k is 

● Loan feature on a 401k and how it can help you

● How to make a 401k a solo one

● How to take money out of a 401k without paying tax penalties

● Process of using a 401k to fund a business

● Benefits of using a 401k to fund your business

● Kinds of rates can you get on this type of financing

● Is personal credit a factor in qualification

● Is revenue a factor in qualification 

● How much money must be in the 401k to qualify 

● Is it a good idea to tap into a 401k to launch a new business

● What percent of the 401k can you borrow against 

● How to ensure you can keep the money out of the 401k without tax penalty

● What’s the interest rate is

● How to use this financing to pay off high-interest debt

● What do business owners use the funds for typically

● Why Wallstreet doesn’t educate on this

 

Show resources:

👉 https://www.danielblue.me/

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