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You CAN Find Restaurant Finance Money - Even After Retirement With a BORSA Plan.

Posted by DRDA CPA's in Houston-Sugar Land-Baytown, TX on May 27, 2008

As the baby boomer generation begins to move closer to retirement age, more and more people are realizing that they aren’t ready for the rocking chair just yet. In fact, many retirees are finally ready to open that business they’ve always wanted. If this sounds like you but you just don’t know where you’re going to find the financing, you need to read this story about Christopher Marshall:

Christopher Marshall had worked hard all of his life. He had always dreamed of opening his own Greek restaurant for years, sharing his love of his family heritage with the people of the town he had lived in all his life. However, like so many people, Christopher spent most of his life working for someone else. He had looked to his retirement years as a time when he would be able to fulfill his dream.

Christopher and his wife bought a new home shortly before the kids moved out, and they loved it. Now their “problem” was that Christopher had the opportunity to retire early, but he just didn’t have the equity in his new home that could finance the loan that he needed to finance a business. Christopher and his wife, Sharon, really didn’t want another loan payment anyway. Chris and Sharon were discouraged, but kept trying to find a way to finance this lifelong dream.

One day a new business owner in the neighborhood told Christopher how he was able to finance his new business with a BORSA plan. “All I had to do was fill out some simple paper work that allowed me to use my 401(k) rollover to purchase my business. You can use your pension plan or your 403(b) as well. The CPA’s at DRDA CPA’s walked me right through the paperwork and the price was really reasonable. The next thing I knew, I had the money I needed to open my new business and was ready to get started.”

A BORSA plan is a Business Owner’s Retirement Savings Account which allows a qualified participant to access their own savings in their 401(k) pension plan, profit sharing 401(k), or a 403(b), 457, or IRA rollover to fund the purchase of or improvement so a new business. With the BORSA plan, you can utilize these funds without distributions, taxes, penalties or the use of a loan.

Christopher made the call to 281-954-6040, and spoke one of the talented DRDA CPAs and was thrilled to find out that not only could he access his 401(k) to finance his business start-up, but the DRDA CPAs could also provide him with expert assistance to create his business plan and create a solid, workable budget.

It really is as simple as visiting www.borsaplan.com to get started financing your dream of owning your own business today. Why wait? If you are ready for the next stage of your life and want to find alternative financing for your start-up business, the BORSA plan could be the answer you’ve been looking for.