Posts tagged Rollovers As Business Start-Ups
Can You Use a Gift as a Down Payment on an SBA 7(a) Loan?

Fortunately for SBA loan borrowers, there’s nothing preventing you from using a gift as a down payment on an SBA 7(a) loan. In most cases, however, the gift must be a from a family member. Otherwise, the lender may be concerned that the gift is actually a loan in disguise— and, that it might have undisclosed terms that could actually hinder a borrower’s repayment of their SBA 7(a) loan.

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Can You Use a 401(k) as an SBA Loan Downpayment?

Getting the money for a down payment can be one of the most challenging parts of applying for an SBA loan. However, if you have a 401(k) account, or another approved tax-deferred retirement account with at least $50,000 in it, you may be able to use those funds as a down payment on an SBA loan— all without incurring any tax penalties. Here’s how.

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