Great article in USA Today:
http://www.usatoday.com/money/smallbusiness/2010-02-15-smallbusiness15_CV_N.htm
This is one of many options for business owners who are looking to start, build, or grow their businesses. Hopefully it's not entered into without a strong understanding of the lending options that are available. I think there's a time and place for about everything...so I'm NOT saying that you should never use your retirement money. However, do you want to take that big of a risk? If the business goes south then would you rather lose your retirement (aka your future) or would you rather have some lines of credit that get behind or go delinquent and there was no collateral attached to them? Seems like a pretty easy answer if you understand the implications.
This does not mean that there's one answer for all but the knowledge going in as to what can be done, if it will raise the needed capital, and what different sources will be tapped for the business needs is so important.
Do it the RIGHT ways as we say...build your business with Excellent personal and business credit. Check us out at hawkeyemgmt.com and see what we do. We offer a FREE, No-Obligation pre-qualification. Unlike many other "business credit" providers we don't sell something to anyone who is willing to buy our over-priced product - instead, we only allow people into our program if they can get the capital through our program. And the best part is that if you don't get your funds then we don't get paid so you won't risk buying something that won't work!
Check us out on Facebook (Hawkeye Management) and follow me on twitter if you like (twitter.com/tomgazaway).
Tom Gazaway CCEW, CMPS, XCO
Hawkeye Management
hawkeyemgmt.com
888-783-1503 toll free
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