ROBS Program FAQ – Using ROBS 401K as a Down Payment for SBA Loan – Will the loan be in my name?

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ROBS Program FAQ – I am using a ROBS 401K plan in order to start a real estate operating company with funds in my Rollover IRA.  The business will obtain a mortgage to acquire real estate.  I have already been pre-approved by my bank – will the loan be in my name or the name of the C-corporation?

While you may personally guarantee the loan, the loan needs to be in the name of the C-Corporation.  In other words, the loan needs to be a commercial loan rather than a personal loan to you.

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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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