With traditional methods of business financing no longer available, many small businesses are getting innovative, creative, and sometimes even extreme to get the money they need to ensure the stability of their businesses.
As bank loans are out of the question for many small business owners, firms have arisen to help business owners take money from their 401(k)s to invest into their businesses.
“In the United States of America, a 401(k) plan allows a worker to save for retirement and have the savings invested while deferring income taxes on the saved money and earnings until withdrawal, ” states Wikipedia. In short, the 401(k) is meant to ensure that when a worker retires, he/she does not have to spend those years struggling to make ends meet.
But before taking such a leap of faith and dipping into these funds, small business owners should be sure that they have tried other, less risky options for acquiring business funds. The fact is, there are still other options, one of those options being the business cash advance.
Using 401(k) funds may be a great option for some small business owners who have tried every alternative to securing business funds with no luck, but a smart small business owner may want to ask him/herself a couple of questions before tapping into funds that were meant to support them during retirement. Questions such as; can a business cash advance help my business? And if so, why haven’t I looked into getting one?
A business cash advance can eliminate business financing problems. Small business owners can sell their businesses’ future credit card receivables and get cash immediately. So instead of taking money that is meant to aid them during retirement, they can access the money that their business will eventually accumulate in credit card sales, with a business cash advance.
Most small business owners who have owned their businesses for at least four months and process daily credit card sales will be eligible to receive a business cash advance, and have money wired into their accounts to be used however they please.
Before you make a drastic move to finance your business, consider a business cash advance and discover how much money your business’s future credit card sales can get you today.