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11-30-2018, 11:20 AM #1Member
Reputation points: 14
- Join Date
- Sep 2015
- Location
- Miami
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- 65
401K Financing
We are looking for a lender that can lend against an established 401 K retirement account. Please email mah@cfoybdesign.com.
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12-02-2018, 01:32 PM #2Noob
Reputation points: 10
- Join Date
- Oct 2016
- Posts
- 1
It's against IRS regulations to use a 401k as collateral. Some 401k's allow from loans directly from the plan.
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12-02-2018, 03:18 PM #3Senior Member
Reputation points: 4567
- Join Date
- Jun 2015
- Location
- Saint Louis, Mo
- Posts
- 335
Guidant Financial offers 401K Business Loans | https://www.guidantfinancial.com/fin...ess-financing/
Originally Posted by CFObyDesign
Nick Hubbard
Senior Loan Advisor
314-252-0299 - Office
314-885-2262 - Direct
nick@elitefactoring.com
www.elitefactoring.com
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12-03-2018, 09:16 AM #4Senior Member
Reputation points: 27981
- Join Date
- Aug 2017
- Posts
- 249
They should contact their plan administrator as it is possible to borrow funds from 401k's without ridiculous fees. However, the percentage they can borrow depends on whether or not they are experiencing plausible financial hardships. Originally Posted by CFObyDesign
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12-21-2018, 12:28 PM #5Senior Member
Reputation points: 68233
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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