IRA/401k Financing

Home / IRA/401K Financing

“Use your retirement funds to finance your own business”

Pennington Consulting Group Financing Options lets you invest your existing IRA or 401(k) funds into launching or buying a business of your own. You don’t have to take a taxable distribution because you are buying stock, as an investment, in your new company. And you DON’T NEED to apply for a loan, because you’ll be using your own money, interest-free. As your business grows, so do your retirement savings. Whether you’re pursuing franchise ownership or an entrepreneurial venture, Pennington Consulting Group has the platform, support, expertise, and services to set you up for success.
"Our goal is to help you reach your goal" -Call us today:800.910.3570
As you may have discovered, getting a bank loan has become more challenging than ever. There has been a $40 billion decrease in smallbusiness loans over the past few years. And since small businesses currently get 90% of their financing from banks, this presents a problem for many potential business owners. Fortunately, there’s a financing option for those who cannot or do not choose to go the bank route.You will have no debt and no payments to make.

What you will have is an operational 401(k) plan that you can contribute to—an affordable and ongoing benefit for you and your employees— one not commonly available for small businesses. And it doesn’t take long to set up. With Pennington Consulting Group, LLC, you can get your financing in place and be owning a business in less than a month.
Pennington 401(k) Financing Option. Here’s how it works.
Though setting up a 401(k) with your retirement funds is a nontraditional financing option, it has been employed in the United States for decades. The structure had its beginning with the passage of ERISA (Employee Retirement Income Security Act) in 1974. Since we launched this program we’ve used it to help thousands of people start their own businesses successfully. It’s all accomplished with a simple(for you, not us), five-step process.

We form a new business entity, a corporation, on your behalf.Pennington Consulting then creates a 401(k) plan for the new business.Our staff facilitates rolling up to 100% of your retirement funds from your existing accounts into the new 401(k) plan—without taking a taxable distribution. Once the money transfers to the new 401(k) plan, the plan makes an investment into the corporation. The corporation, debt-free and cash-rich, can now purchase the business or franchise of its choice.

401K Financing Program FAQ

Is this a new concept? Why don’t more people know about this?
Is this a loophole?
Why is this becoming more popular now?
Can I pay myself a salary?
What is the maximum salary I can draw?
What type of business can I purchase?
What constitutes an operating company?
What constitutes the investment of capital?
What kind of corporation do I have to use?
What about double-taxation (for the C Corp)?
Do I have to offer the 401(k) to all employees?
Why should I utilize Pennington’s Program versus a traditional bank loan?
How much of my IRA can I use for my business venture?
When do I have to pay my IRA back? Is this a loan?
Can I invest in securities as well?
Will I owe taxes and penalties if my business fails?
Do I have to get an appraisal if I am buying a business?
Can my spouse or another close family member co-invest, work for the business, or otherwise be involved?
What are the maximum contributions that I can make per year to this new 401(k)?
Can I still use part of my retirement money to invest in your other product (the Self-Directed IRA LLC)?

Our Services: Personal credit cards | Residential Mortgage | Auto loans | Unsecured Business Lines | IRA/401k Financing | Asset based Financing | Factoring and Purchase order financing | Project financing | Equipment Financing | SBA Loans | Business Credit Building Program | Incorporation & Registered Agents | Business IT Consulting

Pennington Consulting Group Lending Partners Lend in: Alabama |Arizona| Arkansas | California | Colorado | Connecticut | Delaware | Florida | Georgia | Hawaii | Idaho | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Massachusetts | Maryland | Maine | Michigan | Minnesota | Missouri | Mississippi | Montana | Nebraska | Nevada | New Hampshire | New Jersey | New Mexico | New York | North Carolina | North Dakota | Ohio | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | South Dakota | Tennessee | Texas | Utah | Washington | Virginia | Virgin Islands | Vermont | Wisconsin | West Virginia | Wyoming