Forums: Discussions for entrepreneurs and small business.

Yes I do.

There are very specific steps for accomplishing this.

Contact me directly and I'll give you more information.

Robert j

robert(at) bizgrowthmasters(dot)com

jhaley64,

Using your 401k to finance your business can be one of the best ways to fund your business as I assume you know since you are asking this question.  However, I don't think you want to try to do it yourself.  One mistake and you will owe taxes and penalties that could drastically effect your plans.  I am familiar with Benetrends and they are a company that has been helping people use their 401k funds for years to start a company. I think it would be in your best interest to at least check them out and see if they can help you. I would think the risk of one mistake is too high when dealing with the IRS.

This is not something you should try on your own.  Definitely work with an expert like Benetrands or Guidant Financial Group.  With Guidant, you are not taking a loan from your IRA or 401k, but investing into your business like you would with stocks of a publicly traded company.  If your business makes money, your IRA/401k grows.  There is risk involved, but there is also risk with debt financing, and in that scenario you are paying interest too.  Here is a good article from USA today about 401k small business financing.  There is also a great article on startupnation HERE.