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09-20-2019, 11:18 AM #1Senior Member
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Retirement account worth 300k Pledged as collateral
Is it possible to do a deal using a retirement account as collateral for a cash advance? Merchant is doing 200-300k a month but is neg a bit
Charles Frazier
President
Sapphire Capital Group
p: 917-781-2232
m: 917-783-5634
w: www.Sapphirecapgroup.com
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09-20-2019, 11:24 AM #2Senior Member
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They will sign any sort of contract of assignment so the lender is fully protected against a default
Originally Posted by Wheetie
Charles Frazier
President
Sapphire Capital Group
p: 917-781-2232
m: 917-783-5634
w: www.Sapphirecapgroup.com
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09-20-2019, 11:29 AM #3Member
Reputation points: 3041
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Probably not Id imagine thats pretty regulated, but I believe the owner can borrow from it without penalty, no reason to pay MCA rates if they have that. Originally Posted by Wheetie
Looks like they can borrow from their own 401k account 50k or 50% whichever is less, so 50k it is.Last edited by Jamesf; 09-20-2019 at 11:32 AM.
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