Houston is a city of many thriving industries and a diverse economy full of opportunity. Many people that have transitioned out of Corporate America are hesitant to go right back in. They feel that now is the time to live their entrepreneurial dream and run a small business themselves. For most entrepreneurs a Small Business Administration loan is going to make the dream come true. The most common SBA loan type 7(a) is going to require the entrepreneur to put down 20-25% to obtain the loan.
Finding the equity injection can prove to be challenging. Many have not saved enough "hard dollars" for this type of investment. A large number of people have the bulk of their savings tied up in their 401k or IRA plans. It is possible to use those funds as a down payment on their SBA loan WITHOUT any tax or penalty. Using DRDA's BORSA Plan we can assist entrepreneurs in accessing qualified funds to use as their equity injection and also working capital for their new business.
Call me today at 281-954-6023 if you'd like to learn more. If you are a lender, I'm happy to walk through this process with you or your whole team via a webinar. If you are a business broker, let's talk about how you can earn commission with referrals.