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Retirement Rollover Funding

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FINANCE AGENTS PRIVACY POLICY – A COMMITMENT TO YOUR PRIVACY

This site is owned and operated by Seven Lakeview, Inc (7LV). At 7LV, we want to make your experience online satisfying and safe. This privacy statement discloses what information we gather and how we use it.

INFORMATION FINANCE AGENTS GATHERS AND TRACKS

Seven Lakeview, Inc gathers two types of information about users:
Information that users provide through optional, voluntary submissions. These are voluntary submissions to participate in our blogging site, to participate in our message boards or forums, or to gain additional information about our products and services.
Information 7LV gathers through aggregated tracking information derived mainly by tallying page views throughout our sites. This information allows us to better tailor our content to readers’ needs and to help our Marketing Division better understand the demographics of our audience. Because 7LV derives its revenue mainly from the sales of its service packages your personal information will never be given to a third party unless the third party is a direct affiliate of 7LV and part of the processing team.

Seven Lakeview, Inc Gathers User Information In The Following Processes:

Optional Voluntary Information

We offer the following free services, which require some type of voluntary submission of personal information by users:

  • Blogging
    Users of the site’s blogging platform must register separately for these services (free of charge) in order to post blogs, although they needn’t register to visit the site. During registration, the user is required to choose a username, create a password, add an email address, agree to the Terms of Service, and choose whether they want a blogging website or just a user account.
    Electronic newsletters policy (Dispatches)
    We may offer a free electronic newsletter to users. Seven Lakeview gathers the email addresses of users who voluntarily open an account (i.e. a blog or username). Users may remove themselves from this mailing list by following the link provided in every newsletter that points users to the subscription management page. Users can also subscribe to the newsletters with any customer service representative or by emailing 7LV at info@FinanceAgents.com.
  • Surveys
    Seven Lakeview may conduct user surveys to better target our content to our audience. We sometimes share the aggregated demographic information in these surveys with our affiliated partners. We never share any of this information about specific individuals with any third party.
  • Children
    Consistent with the Federal Children’s Online Privacy Protection Act of 1998 (COPPA), we will never knowingly request personally identifiable information from anyone under the age of 13 without requesting parental consent.
    Usage tracking: Seven Lakeview tracks user traffic patterns throughout all of our sites. However, we do not correlate this information with data about individual users. Seven Lakeview breaks down overall usage statistics according to a user’s domain name, browser type, and MIME type by reading this information from the browser string (information contained in every user’s browser). Seven Lakeview uses tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you.
  • Cookies
    We may place a text file called a “cookie” in the browser files of your computer. The cookie itself does not contain Personal Information although it will enable us to relate your use of this site to information that you have specifically and knowingly provided. The only personal information a cookie can contain is information you supply yourself. Seven Lakeview uses cookies to track user traffic patterns (as described above). Our advertising system delivers a one-time cookie to better track ad impressions and click rates. You can refuse cookies by turning them off in your browser. If you’ve set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You do not need to have cookies turned on to use this site. However, you do need cookies to participate actively in message boards, forums, polling, and surveys.

USE OF INFORMATION

Seven Lakeview uses information voluntarily given by our users to enhance their experience in our network of sites, whether to provide interactive or personalized elements on the sites or to better prepare future content based on the interests of our users.

As stated above, we use information that users voluntarily provide in order to send out electronic newsletters and to enable users to participate in surveys and blogs. We may send out newsletters to subscribers on a regular schedule, and occasionally send out special editions when we think subscribers might be particularly interested in something we are doing. Seven Lakeview never shares newsletter mailing lists with any third parties, including advertisers, sponsors, or partners.

When we use tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. We track search terms entered in the Search function as one of many measures of what interests our users.

Seven Lakeview creates aggregate reports on user demographics and traffic patterns for our own internal use. We will not disclose any information about any individual user except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.

SHARING OF THE INFORMATION

Seven Lakeview uses the above-described information to tailor our content to suit your needs and help us understand the demographics of our clients. This is essential to keeping our service free. We will not share information about individual users with third parties, except direct affiliates, to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.

SECURITY

Seven Lakeview operates secure data networks protected by industry-standard firewall and password protection systems. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided by our customers.

OPT-OUT POLICY

We give users options wherever necessary and practical. Such choices include:

Opting not to register to receive our electronic newsletters.

Opting not to participate in certain interactive areas such as the blog site, however, opting out does not change the collection of personal data. The personal data collected is necessary in order to make any payouts.

YOUR CONSENT

By using this site, you consent to the collection and use of this information by 7LV. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it.

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FINANCE AGENTS Advertisement Disclosure (last updated January 13, 2016):

Advertised Terms and Information

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The pre-qualification you receive is based upon preliminary unverified information, which although deemed to be reliable, is not guaranteed to be correct. A final decision cannot be made until a complete application and supporting documentation is received and verified by the lender. Your prequalification letter does not guarantee approval, nor is it an offer or commitment, it is merely a snapshot of what may be possible. Product and services may not be available in all states.

While there are numerous factors that can impact an individual’s credit score, your personal score page provides you with six factors that may be impacting your overall credit score. It is these factors that create your VantageScore®:

  • Payment history – Have you consistently paid your accounts in a timely manner?
  • Utilization – How much of your total credit available are you currently using?
  • Balances – What is the total of your current and delinquent account balances?
  • Depth of credit – How long is your credit history and is there a varied mix of credit types?
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  • Available credit – What is the total amount of credit that you currently have access to?
  • VantageScore® is based primarily on a 24-month review of your credit report. Your credit report has information – such as your history of payment punctuality, the total amount of your available credit, the total amount and type of debt you have, the number of open and active accounts, and the longevity of your relationships with creditors all of which impact your overall score. Your score may vary by bureau and that provided by FICO®.

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FINANCE AGENTS PRIVACY POLICY – A COMMITMENT TO YOUR PRIVACY

This site is owned and operated by Finance Agents. Your privacy on the Internet is of the utmost importance to us. At Finance Agents, we want to make your experience online satisfying and safe.

Because we gather certain types of information about our users, we feel you should fully understand our policy and the terms and conditions surrounding the capture and use of that information. This privacy statement discloses what information we gather and how we use it.

INFORMATION FINANCE AGENTS GATHERS AND TRACKS

Finance Agents gathers two types of information about users:

Information that users provide through optional, voluntary submissions. These are voluntary submissions to participate in our blogging site, to participate in our message boards or forums, or to gain additional information about our products and services.

Information Finance Agents gathers through aggregated tracking information derived mainly by tallying page views throughout our sites. This information allows us to better tailor our content to readers’ needs and to help our Marketing Division better understand the demographics of our audience. Because Finance Agents derives its revenue mainly from the sales of its service packages your personal information will never be given to a third party unless the third party is a direct affiliate of Finance Agents and part of the processing team.

Finance Agents Gathers User Information In The Following Processes:

Optional Voluntary Information

We offer the following free services, which require some type of voluntary submission of personal information by users:

Blogging: Users of the site’s blogging platform must register separately for these services (free of charge) in order to post blogs, although they needn’t register to visit the site. During registration the user is required to choose a username, create a password, add an email address, agree to the Terms of Service, and choose whether they want a blogging website or just a user account.

Electronic newsletters policy (Dispatches)

We may offer a free electronic newsletter to users in the near future. Finance Agents gathers the email addresses of users who voluntarily open an account (i.e. a blog or username). Users may remove themselves from this mailing list by following the link provided in every newsletter that points users to the subscription management page. Users can also subscribe to the newsletters with any customer service representative or by emailing Finance Agents at info@FinanceAgents.com.

Surveys: Finance Agents may occasionally conduct user surveys to better target our content to our audience. We sometimes share the aggregated demographic information in these surveys with our affiliated partners. We never share any of this information about specific individuals with any third party.

Children: Consistent with the Federal Children’s Online Privacy Protection Act of 1998 (COPPA), we will never knowingly request personally identifiable information from anyone under the age of 13 without requesting parental consent.

Usage tracking Finance Agents tracks user traffic patterns throughout all of our sites. However, we do not correlate this information with data about individual users. Finance Agents does break down overall usage statistics according to a user’s domain name, browser type, and MIME type by reading this information from the browser string (information contained in every user’s browser).

Finance Agents uses tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you.

Cookies: We may place a text file called a “cookie” in the browser files of your computer. The cookie itself does not contain Personal Information although it will enable us to relate your use of this site to information that you have specifically and knowingly provided. But the only personal information a cookie can contain is information you supply yourself. A cookie can’t read data off your hard disk or read cookie files created by other sites. Finance Agents uses cookies to track user traffic patterns (as described above). Our advertising system delivers a one-time cookie to better track ad impressions and click rates. You can refuse cookies by turning them off in your browser. If you’ve set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You do not need to have cookies turned on to use this site. However, you do need cookies to participate actively in message boards, forums, polling and surveys.

USE OF INFORMATION

Finance Agents uses any information voluntarily given by our users to enhance their experience in our network of sites, whether to provide interactive or personalized elements on the sites or to better prepare future content based on the interests of our users.

As stated above, we use information that users voluntarily provide in order to send out electronic newsletters and to enable users to participate in surveys, and blogs. We may send out newsletters to subscribers on a regular schedule, and occasionally send out special editions when we think subscribers might be particularly interested in something we are doing. Finance Agents never shares newsletter mailing lists with any third parties, including advertisers, sponsors or partners.

When we use tracking information to determine which areas of our sites users like and don’t like based on traffic to those areas. We do not track what individual users read, but rather how well each page performs overall. This helps us continue to build a better service for you. We track search terms entered in Search function as one of many measures of what interests our users. But we don’t track which terms a particular user enters.

Finance Agents creates aggregate reports on user demographics and traffic patterns for our own internal use. We will not disclose any information about any individual user except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.

SHARING OF THE INFORMATION

Finance Agents uses the above-described information to tailor our content to suit your needs and help us understand the demographics of our clients. This is essential to keeping our service free. We will not share information about individual users with any third party, except to comply with applicable law or valid legal process or to protect the personal safety of our users or the public.

SECURITY

Finance Agents operates secure data networks protected by industry standard firewall and password protection systems. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided by our customers.

OPT-OUT POLICY

We give users options wherever necessary and practical. Such choices include:

Opting not to register to receive our electronic newsletters.

Opting not to participate in certain interactive areas such as the blog site, however opting out does not change the collection of personal data. The personal data collected is necessary in order to make any payouts.

YOUR CONSENT

By using this site, you consent to the collection and use of this information by Finance Agents. If we decide to change our privacy policy, we will post those changes on this page so that you are always aware of what information we collect, how we use it, and under what circumstances we disclose it.

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Frequently Asked Questions:

Retirement Rollover

What Is A Retirement Rollover And How Does It Work?

A retirement rollover is a process of moving funds from one retirement account to another. This is typically done to consolidate retirement savings or to move funds from a custodian that has restrictive investments to a custodian that allows for non-traditional investments (like investing in your business).

Here is how a retirement rollover typically works:

  1. Determine eligibility: In general, you can roll over funds from any qualified account (401(k), 403(b), IRA) to another qualified account.
  2. Open a qualified plan: You should determine what you want to do with your retirement account before rolling it over. You should decide if you want to use your funds for an active investment (like your own business) or a passive investment (major corporations, commodities, real estate investments you’re not involved in).
  3. Request a rollover: Once you have opened the appropriate account, you can request a rollover from your retirement plan administrator. This will typically involve completing paperwork and providing information about the account you are rolling over to.
  4. Transfer funds: After the rollover request has been processed, the funds from your retirement plan will be transferred to your new account. This may take several days or weeks to complete, depending on the plan and the financial institutions involved.
  5. Invest the funds: Once the funds have been transferred to your new account, you can direct them toward the venture of your choosing.

What Types Of Retirement Accounts Are Eligible For A Business-Directed Rollover?

A business-directed rollover is a type of rollover in which a business owner or self-employed individual can move funds from an existing retirement account into a retirement account that is established for the business. This type of rollover is also known as a Rollover for Business Startup (ROBS) or Qualified Employer Securites (QES) transaction..

In general, business-directed rollovers are typically available for the following types of retirement accounts:

  1. Traditional 401(k) plans: If you have a traditional 401(k) plan from a previous employer, you may be able to roll over the funds into a business-directed retirement plan.
  2. Traditional IRAs: You can also roll over funds from a traditional IRA into a business-directed retirement plan.
  3. Roth 401(k) plans: If you have a Roth 401(k) plan from a previous employer, you can use it for a Business Directed Retirement Account
  4. Roth IRAs: You cannot use a Roth IRA for a Business Directed Retirement Account, but you can access these accounts directly without any special structures.


What Are The Tax Implications Of A Retirement Rollover?

The tax implications of a retirement rollover depend on the type of rollover, the type of retirement account, and whether the funds are being rolled over into a tax-deferred or tax-free account. Here are some general guidelines:

  1. Traditional IRA to traditional IRA rollover: If you roll over funds from a traditional IRA to another traditional IRA, there are no tax implications, as long as the rollover is completed within 60 days. It may help to have a RIAA investment advisor assist you with your rollover to ensure it is not incorrectly reported as a distribution.
  2. Traditional IRA to Roth Account rollover: If you roll over funds from a traditional IRA to a Roth IRA, you will need to pay income taxes on the amount rolled over, as the funds are considered taxable income. However, once the funds are in the Roth IRA, they will grow tax-free and qualified withdrawals will be tax-free.
  3. 401(k) to IRA rollover: If you roll over funds from a 401(k) to an IRA, there are no tax implications, as long as the rollover is completed within 60 days. However, if you take possession of the funds and do not deposit them into the new account within 60 days, the rollover will be considered a distribution and will be subject to income taxes and possibly penalties.
  4. 401(k) to 401(k) rollover: If you roll over funds from one 401(k) to another, there are no tax implications, as long as the rollover is completed correctly.


How Long Do I have To Complete A Retirement Rollover?

For most retirement rollovers, you have 60 days from the date of distribution to complete the rollover. This means that you have 60 days to deposit the funds from the original retirement account into the new retirement account. If you do not complete the rollover within 60 days, the distribution will be considered a taxable distribution and may also be subject to early withdrawal penalties if you are under age 59 1/2.

There are some exceptions to the 60-day rule, such as when the distribution is made directly from one retirement account to another, or when the IRS grants a waiver due to certain circumstances, such as a natural disaster.

What Investment Options Are Available For A Business Directed Retirement Account?

A Business Directed Retirement Account offers access to investments you are directly involved in including a retail food, franchise startups, consulting, and businesses that can’t be funded with traditional financing (like cannabis and real estate). 

A BDRA can be used for any investment that you are involved in, meaning that if you are actively involved in the business, spending at least 10-20 hours a week to grow the business, you can use these accounts for all expenses related to the business. The list of approved expenses is very long and includes:

  • Down Payments for Traditional Funding
  • Salaries of Employees (including yourself)
  • Inventory and Working Capital
  • Property and Hard Assets (like a company vehicle)
  • Equipment and Office Furniture

It’s important to note that with a BDRA, you have control over how your retirement funds are invested. This means you can choose a business in a booming industry or that you have the skills to operate successfully. However, it’s important to conduct thorough research and understand the potential risks and benefits associated with your business before making any investment decisions.

What Investment Options Are Available For A Rollover IRA?

A rollover IRA offers a wide range of investment options, including stocks, bonds, mutual funds, exchange-traded funds (ETFs), real estate investment trusts (REITs), and more. A Self-Directed IRA offers non-traditional investment options, such as real estate rentals, commodities (gold or bitcoin), or privately held corporations (investing in a colleague’s business) 

It’s important to note that with a rollover IRA, you have control over how your retirement funds are invested. This means you can choose investments that align with your investment goals, risk tolerance, and time horizon. However, it’s important to conduct thorough research and understand the potential risks and benefits associated with each investment option before making any investment decisions.

Can I Access My Funds Penalty-Free After A Retirement Rollover?

Yes, as long as you are accessing the funds for qualified investments, according to the retirement structure you have chosen, you should never face taxes or penalties for the investment. This is why it’s imperative that you work with an advisor or consultant that specializes in the structure and investment you’re interested in. This will help ensure that you avoid any prohibited transactions or investments that might jeopardize the tax-deferred status of your account.

How Can I Ensure A Smooth And Successful Retirement Rollover Process?

To ensure a smooth and successful retirement rollover process, consider the following tips:

  1. Understand your retirement account options: Before initiating a rollover, it’s important to understand the different types of retirement accounts available to you and the rules and regulations associated with each.
  2. Work with a financial advisor: Consider working with a financial advisor who can help guide you through the rollover process and provide guidance on investment options for your new account.
  3. Follow the rollover process carefully: Follow the rollover process carefully to ensure that the funds are transferred properly and that you avoid any potential tax implications or penalties.
  4. Monitor your investments: Once the funds have been transferred to your new account, regularly monitor your investments or the accounting of your venture to make sure it ‘cash flows’ adjust your portfolio as needed to ensure that your retirement savings are on track.

By following these tips, you can help ensure a smooth and successful retirement rollover process.

What Are The Potential Risks And Benefits Of A Retirement Rollover?

A retirement rollover has potential risks and benefits. Here are some of them:

Potential Benefits:

  1. Investing in your own business with large growth that outpaces traditional investments where it’s currently invested. 
  2. More investment options: A retirement rollover allows you to move your retirement savings from your employer-sponsored plan to a self-directed IRA account. This gives you access to a wider range of investment options.
  3. Consolidate your retirement savings: Rolling over your retirement savings from multiple employer-sponsored plans into a single account can make it easier to manage your retirement savings.
  4. Providing funding for your business when other options are not available.
  5. Control over your retirement savings: With a self-directed IRA or BDRA, you have greater control over your retirement savings and can make investment decisions that align with your retirement goals.

Potential Risks:

  1. Tax implications: If not done properly, a retirement rollover can result in taxes and penalties, especially if you withdraw funds from the retirement account instead of rolling them over directly.
  2. Loss of employer-sponsored plan benefits: Employer-sponsored retirement plans may offer benefits such as matching contributions or lower fees that you may lose when rolling over to an IRA. This is especially true for pensions, which offer a scheduled payment to you for your entire life.
  3. Higher investment risk: With more investment options comes more investment risk. Moving your retirement savings to a self-directed IRA or a business that you operate account means that you will need to take responsibility for your own investment decisions.

It’s important to carefully consider the potential risks and benefits of a retirement rollover before making any decisions. Consult with a financial advisor to help you determine if a retirement rollover is the right choice for you.

How Many Times Can I Take Draws On My Business Directed Retirement Rollover?

Once your retirement account is rolled into a BDRA or Self-Directed IRA, you will have unlimited access to the account, to be used for your business expenses or investments. You can use up to 100% of the balance in your account.