The Business Credit and Financing Show
Podcast by Ty Crandall
Episode 705:
Daniel Blue: How to Use a Solo 401(k) to Fund Your Business
Ty Crandall Interviews Industry Leaders
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As Heard On:
See How to Use a Solo 401(k) to Fund Your Business
Daniel Blue: 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
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