There are several ways that businesses can raise money. Some are very well known while others are not as familiar to business owners. Below are two ways your business can raise money that may be unfamiliar:

1. ROBS Programs on a 401(k): Rollovers as Business Startups (ROBS) are programs tat allow a business owner to take tax-deferred retirement funds and use them to start or buy a business without early withdrawal penalties. Do be careful as these programs have a very complex rules provided by the IRS and if not handled correctly could result in penalties and other issues.

2. Vendors: If you are a good customer you could ask a vendor if he or she offers any extended repayment terms. Vendors may have their own financing programs or terms. “Pay on scan” could be one option, where the supplier is paid for the inventory only when it is sold to a customer. There are many costs that can be eliminated to allow your business to operate more efficiently and save money.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business related questions, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service,Trademarks,Copyrights,Estate Planning, Legal Counsel, Wills,Trusts, Agreements & Leases, Corporate & Company