Franchise Financing Options
for your Squeegee Squad Start-Up

June 29, 2017

Retirement Rollover & SBA Loan Vendors

Need suggestions for Squeegee Squad start-up capital?

Although the Squeegee Squad franchise investment is quite low, many aspiring entrepreneurs just do not have access to cash in the bank to fund the initial investment. 401K rollovers and SBA Express Loans are common methods to access funds fairly quickly so that you can move forward and take control of your future.

401K or IRA Rollover to Start a Franchise

In some situations, applicants have a retirement account like a 401K or an IRA. One misconception is that if you withdraw funds early you will be subject to early withdrawal penalties. However, if you roll your retirement account directly into another business, then you will not be subject to penalties. This is a common method that entrepreneurs use to fund business start ups by liquidating capital from a retirement account and converting to cash to use for business initial start-up expenses.

It may sound a little scary but it is not as if the cash is being spent and vanishes. The cash asset in the retirement account is simply converted to a cash asset in your new business. Your business has value and the investment in your business still carries value. You just took cash from your left pocket and put it in your right pocket. Your right pocket will likely yield higher returns than if you were to leave it in your left pocket.

There are many vendors who specialize in 401K rollovers to start franchise businesses. Here are a few options:

SBA Express Loan to Start a Franchise

If you have ever tried to get a business loan from a bank these days, it can be difficult. Banks want to see collateral and it seems that they only lend money to individuals and businesses who don’t really need it. The SBA has some great programs like the SLA2 (Small Loan Advantage $150) program in which the Small Business Administration actually backs the loan. SBA loans can be obtained fairly quickly and sometimes within 30 days. Processing is simplified and banks loosen up.

There are also many vendors who specialize in helping individuals to obtain SBA loans to start franchise businesses. Here is a great option:

Ready to start a window cleaning business?  Click here to contact Squeegee Squad University.