Using a Home Equity Loan to Fund Your Business in Texas

Is it a good idea?

If you are looking for financing for your small business, one option is a home equity loan. But should you borrow against your home to finance you business? If you live in Texas, you should begin your search for business capital with a call to the financial advisors with the BORSA Plan for advice before you make any financial decisions that could cost you more than you expect. Call (281) 265-8459 today to discuss your options with Suzy Granger, the expert on making sound decisions regarding your small business financing.

It can be difficult to know your most favorable option to finance your small business. One alternative that many people consider is a home equity loan. However, committing to this type of a loan may be a risk you don’t need to take when financing a start-up business.

There are many decisions to make when you start your own business and the financial planning you do can make a big difference in your chances for success. It may seem that borrowing against the equity in your home is a safe alternative, but if your business should falter, you are also risking the roof over your family’s head. There are better alternatives to finance your small business and the financial experts at DRDA CPA’s are ready to help you with the process.

DRDA is experienced in assisting their clients understand and obtain a BORSA plan for their business financing needs. A Business Owner’s Retirement Savings Account (BORSA) is a safer alternative than risking the equity in your home. A BORSA loan uses the holdings in your 401(k) to fund your business start up without any losses due to penalties, taxes or interest. You don’t need to withdraw the money you’ve saved in your 401(k). Instead, you can roll over your savings into a plan that is designed for the small business owner’s financial needs. A BORSA is not a bank loan that puts you into financial jeopardy. You are simply using the money you have already saved toward your retirement as a means to finance your small business without resorting to a home equity loan or other risky means of financing your dream. The BORSA consultants at DRDA are experienced and knowledgeable about this safe alternative for financial capital to fund your business.

If you live in Texas, the best place to turn for the level of expertise and help you need and deserve is DRDA, P.C., at (281) 261-8459. Contact the expert business consultants at DRDA, P.C. today to find out how you can use your 401(k) to finance your small business without the risk of a home equity loan.