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Old 08-18-2012, 10:21 AM
 
5 posts, read 9,179 times
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Ok here is the problem. I do not want to touch my 401k but am left with no other resources to make a purchase of an existing profitable Franchise route in Sacramento area. I have exhausted all my friends family with the question will you loan. I am left with my 401k at my current employer with whom i am on thin ice anyway. I cannot qualify for a GOOD loan due to i have no home of my own. So are there any other options out there for me. Most banks do not loan on Routes as there is nothing for them to resell to get their money back. Thanks looking for advice
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Old 08-18-2012, 11:37 AM
 
25,619 posts, read 36,680,593 times
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Post in business Forum.

you'll get better answers
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Old 08-18-2012, 01:56 PM
 
5 posts, read 9,179 times
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Ty!
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Old 08-27-2012, 03:22 AM
 
5 posts, read 19,974 times
Reputation: 11
See if you can move your 401k to a self directed IRA. You'll need to check with your Plan Administrator. Those types of investments are allowed in self directed retirement accounts and you wouldn't be taking funds out or taking a loan out against it. It would simply be changing the asset from cash to an entity.
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