mccann jersey

mccann jersey -

In the wake of a recessionary cycle that has only recently begun to show signs of a turnaround, retailers have faced a number of significant financial and logistical challenges. But while existing retailers have faced a number of challenges, from a grim real estate market, to tighter lending standards and lower levels of consumer spending, the rugged economic landscape has been an especially difficult issue for aspiring small business owners. For prospective franchisees, the financial hurdles to opening a small business franchise can seem bigger than ever.

Up until approximately a year ago, the most common method that a prospective franchisee would use to secure financing for a new small business was by securing a home equity line of credit. With a house the single biggest asset in most people’s personal portfolios, home refinancing always made sense. But with homes losing value and banks hesitant to lend, refinancing options have become more limited for many. Some alternative business loans are available through local banks, and the SBA can provide some assistance in the form of low-interest SBA-backed small business loans, but such programs are relatively limited and frequently the application and review process can move quite slowly. Fortunately, however, there are many other viable and effective ways to move forward with financing. mccann jersey Navigating the difficult lending market to open a franchise can seem like a daunting prospect, but there are a number of available options to finance a new small business in an efficient, effective and responsible manner.

Rolling it over

A 401K rollover is one popular option for prospective franchisees. A 401K rollover essentially utilizes an existing IRA as a funding source for a new business; doing so without incurring any taxes or penalties. There are a number of companies that specialize in assisting clients with the logistics of a 401K rollover. The mccann jersey basic process involves putting together a corporation and a 401K transfer package, and then purchasing stock in the corporation. The net result is a process that enables individuals to utilize their savings to fund the opening of their own business; making, in a very real sense, an investment in themselves. And because those savings are treated as an investment in the business, there is no corresponding debt to increase overhead mccann jersey for the new business.