Financing options with Guidant
401(k) Business Financing
No Interest, No Collateral, No Credit Score
401(k) business financing is an ideal method if you don’t want to go into debt, don’t qualify for a loan, or just don’t have the cash on hand to start or purchase a business. Unlike other types of funding methods, your credit score, past experience, or on hand collateral play no role in eligibility. Instead, the main factors are the type of retirement account (like a 401(k) or IRA) and the amount of money you have in it (at least $50,000).
You Can Still Grow Your Nest Egg
ROBS is also a tool for building your retirement assets. While using ROBS does mean you’re taking money out of your retirement accounts, it also means putting cash back in. As you work within your business and pay yourself a salary, you’ll also be contributing a percentage of that salary into a 401(k), just like you do when you’re an employee at any other company. This means your retirement assets will continue to grow as you build your business.
Fully Legal and IRS Compliant
In 1974, Congress enacted the Employee Retirement Income Security Act (ERISA) to shift the burden of building retirement assets from the employer to the employee. ERISA, when paired with specific sections of the Internal Revenue Code, makes it legal to tap into your eligible retirement accounts without an early withdrawal fee (if you’re younger than 59 and a half) or a tax penalty.
SBA Small Business Loans
Lower Interest Rates
SBA loan interest rates are lower than traditional business loans, making repayment less of a burden — which gets you to profitability faster.
Flexible Down Payment
SBA loans can be combined with other forms of financing — like unsecured loans or 401(k) Business Financing — saving you on out-of-pocket costs.
Easier Loan Application
With Guidant, your application goes to our our extensive lender network, which means you get more options and a competitive advantage.