re: why you should consider financing your business...yourself

by Teresa Kuhn, JD, RFC, CSA
Authorized Bank on Yourself (tm) Advisor


In my discussions with people about how they can achieve financial fitness, one topic that comes up fairly frequently is the idea of starting one's own business.

While there are lots of good reasons to do so (tax advantages, creating a bigger income stream, etc.) there are also some common pitfalls, especially in the areas of how to finance and grow the business.

Banks are the most frequently used sources of funding for start-ups as well as for businesses that want to expand or franchise.

Unfortunately, as we all know, working with banks can be frustrating and expensive, particularly if you have no established business credit and/or your personal credit is less than stellar.  You might be able to get a loan after jumping through the requisite number of hoops and pleading on bended knees...

But the interest you will pay will take a nice chunk out of your profits and leave you wishing there was another way.

Becoming Your Own Source of Financing Is That Way!

When it comes to money, all businesses, regardless of size, need at least three things: working capital, legal ways to pay less in taxes, and a way to transfer proceeds from the business to the owner or owners.

Creating your own private financing system, such as the highly-customized ones I create for my Bank on Yourself clients, solves all of these issues in a way that provides business owners with the ultimate flexibility,use, and control of their money.

When you create your own personal finance system, you essentially recapture money that you would have otherwise paid to third party lending institutions, such as banks, finance companies, and credit card companies.

Redirecting that money, when done using a specialized whole life policy like the ones I structure for my clients is a great way to regain the control you relinquish when you borrow from third party lenders.

Also, as you use your "private finance company" to make loans to your business, you create tax deductions for both you and your business that put additional money in your pocket.

If you are a business owner, or potential business owner, then you need to learn more about the particular characteristics of a properly structured whole life policy which allow it to function more like a private finance company than insurance.

I would love to discuss these characteristics with you and show you how you can start putting them to work for you now...

PS: Get instant access to two free audios about how you can break the vise grip of banks and Wall Street.. Go here now to listen!
http://www.ibankonme.com/