ROBS Program 401k Business Financing FAQ – What are my options if my business deal falls through?

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ROBS Program FAQ: I am looking to use 401k business financing to finance the purchase of an existing wine shop.  This deal might fall through and now I am looking to buy a chocolate shop – is that ok?

It is certainly acceptable from a 401k business financing perspective if the C-corporation that is funded with your retirement starts or buys another business.

In other words, you won’t be locked in from a ROBS 401K business financing perspective to your original business plan. As long as the business is an active operating company (e.g. providing goods and/or services) and you are buying the business from an unrelated person, it is compatible with the ROBS program.

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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