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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will.

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Speaker 2: Be protected sponsored by the United States Department of Homeland Security.

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Speaker 3: So remember way back when I think you know, first

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Speaker 3: two weeks we talked about Brittany and her jewelry company

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Speaker 3: ABC Jewels. Well, now you know she's gotten her net accounts,

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Speaker 3: she's starting to get some revolving accounts reporting to her

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Speaker 3: business credit reports. But she still needs a bit of money.

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Speaker 3: So she's went to her financial advisor and she wants

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Speaker 3: to have conversation with them about whether or not she

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Speaker 3: can borrow from her four to one K to help

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Speaker 3: continue to fund her business. Now, do you think this

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Speaker 3: is something that she can legally do? Yes?

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Speaker 4: Or no?

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Speaker 3: And why let's go ahead and like the chat up.

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Speaker 3: So she wants to borrow from her four one K

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Speaker 3: to help fund her business. This is something that she

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Speaker 3: can do as an entrepreneur. Okay, got a yes, so

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Speaker 3: far yep, yep. But she will be taxed yep, yep.

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Speaker 3: And we'll talk about that that tax part. Because there's

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Speaker 3: a difference between a taken out a loan from my

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Speaker 3: retirement and withdrawing from my retirement. All right, So the

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Speaker 3: thing that I think is going to be more important

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Speaker 3: for us to think about a couple of things before

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Speaker 3: we even think about going this route. First and foremost,

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Speaker 3: loan versus a withdrawal. So a loan you're borrowing against

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Speaker 3: the money that you're investing in, right, So even though

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Speaker 3: you're taking that money out, it's basically like a secured loan. Right,

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Speaker 3: you're taking that loan out against your money that's already reporting.

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Speaker 3: And the good thing about borrowing taking out a loan

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Speaker 3: against your four one K is that you'll still be

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Speaker 3: getting that interest even though you'll be paying it back, right.

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Speaker 3: But the difference between that and a withdrawal is once

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Speaker 3: you withdraw something, and if you're under the age of sixty,

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Speaker 3: you'll be hit with you know, tax penalties the ten

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Speaker 3: percent federal and then depending on the state, they might

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Speaker 3: also come hit you with some state tax as well.

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Speaker 3: So whenever you're thinking about your four to one K,

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Speaker 3: go for loans over withdraws, make withdrawals kind of like

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Speaker 3: that last lash resort, Like this is the only funding

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Speaker 3: source to have access to, and it's some money that

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Speaker 3: I have, and I'm okay with getting that ten percent

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Speaker 3: penalty against it if I'm below sixty. But you know,

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Speaker 3: the kind of stipulation with loans that we often don't

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Speaker 3: think about is you can only borrow. You can only

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Speaker 3: take out loans of those four one a K accounts

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Speaker 3: for employers that you're actively with. So again like it

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Speaker 3: unless you are with that employee right now, nine times

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Speaker 3: out of ten, like that uh, four one K account

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Speaker 3: won't let you borrow against it because you're no longer

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Speaker 3: working with them. They will give you the option to withdraw,

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Speaker 3: which you know, every you can do from every four

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Speaker 3: one four one K account that you have. But again,

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Speaker 3: like I would try to, like if you could roll

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Speaker 3: over all of those into that active method of employment

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Speaker 3: that you have, because then that total amount will be

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Speaker 3: rolled over into that one account and you'll be able

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Speaker 3: to borrow from that as opposed to you know, only

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Speaker 3: having withdraw restrictions if it's sitting on their old accounts.

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Speaker 3: So something definitely to think about in terms of, you know,

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Speaker 3: overall consideration for your person as well as your business

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Speaker 3: because when you're talking about yourefore when when you have

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Speaker 3: like multiple accounts, you kind of want to see whether

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Speaker 3: or not you want to roll them over into one

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Speaker 3: or you know, maybe roll them over into IRA, which

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Speaker 3: is another place that you know can be a place

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Speaker 3: so you can get some money and kind of think about.

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Speaker 3: But in general, four one K is a great resource

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Speaker 3: that I want us to keep in mind ifever we

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Speaker 3: need to. But just understand the stipulations based on where

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Speaker 3: you are in your personal like employment journey and how

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Speaker 3: that might work out with taking this up as a source.

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Speaker 3: All right, So some other kind of forms that you

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Speaker 3: know are out there and will be a bit dependent

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Speaker 3: on where we are in our journey, and I think

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Speaker 3: will become much more sufficient as we kind of get

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Speaker 3: you know, more months and years under our belts in

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Speaker 3: terms of our over our business. So equipment financing I

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Speaker 3: think is a great place one because it provides an

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Speaker 3: opportunity to add installment type accounts, you know, largely because

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Speaker 3: that's a lot of the equipment that you would be

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Speaker 3: leasing across Indus trees would be on like that, that

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Speaker 3: installment kind of like method. So that would be a great,

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Speaker 3: great space one because even though you are taking money

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Speaker 3: out or borrowing money to get this, the kind of

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Speaker 3: what you recoup in terms of actually needing that equipment

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Speaker 3: to conduct your business, to maybe automate some processes or

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Speaker 3: whatever that equipment means to you your particular business and

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Speaker 3: the niche that you operate in. Having that is something

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Speaker 3: that could boost those profits. That will not only repay

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Speaker 3: whatever monthly installment you have to pay against the equipment,

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Speaker 3: but it also help you bring in profit as well. Right,

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Speaker 3: So with equipment financing, think about not just the amount

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Speaker 3: of money that you're going to have to put out,

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Speaker 3: but how much more money will be will you be

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Speaker 3: able to bring in simply because you have that equipment,

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Speaker 3: or you know, an equipment doesn't have to be like physical.

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Speaker 2: Right, Ernest, What's up?

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Speaker 5: You ever walk into a small business and everything just

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Speaker 5: works like the checkout is fast, the receipts are digital,

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Speaker 5: tipping is a breeze, and you're out the door before

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Speaker 5: the line even build odds are they're using Square. We

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Speaker 5: love supporting businesses that run on Square because it just

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Speaker 5: feels seamless. Whether it's a local coffee shop, a vendor

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Speaker 5: at a pop up market, or even one of our

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Speaker 5: merch partners, Square makes it easy for them to take payments,

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Speaker 5: manage inventory, and run their business with confidence, all from

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Speaker 5: one simple system. If you're a business owner or even

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Speaker 5: just thinking about launching something soon, Square is hands down

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Speaker 5: one of the best tools out there to help you start, run,

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Speaker 5: and grow. It's not just about payments, it's about giving

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Speaker 5: you time back so you can focus on what matters

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Speaker 5: most ready. To see how Square can transform your business,

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Speaker 5: visit Square dot com, backslash, go, backslash, eyl to learn more.

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Speaker 5: That Square dot com backslash, go backslash eyl, don't wait,

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Speaker 5: don't hesitate. Let's Square handle the back end so you

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Speaker 5: can keep pushing your vision forward. This episode is brought

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Speaker 5: to you by P and C Bank. A lot of

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Speaker 5: people think podcasts about work are boring, and sure they

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Speaker 5: definitely can be, but understanding a professionals routine shows us

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Speaker 5: how they achieve their success little by little, day after day.

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Speaker 4: It's like banking with P and C Bank. It might

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Speaker 4: seem boring to save, plan and make calculated decisions with

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Speaker 4: your bank, but keeping your money boring is what helps

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Speaker 4: you live a more happily fulfilled life. P and C

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Speaker 4: Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since

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Speaker 4: eighteen sixty five is a service mark of the PNC

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Speaker 4: Financial Service Group, Inc. P and C Bank National Association

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Speaker 4: Member FDIC.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trum leadership.

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Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fine nearly one thousand dollars a day,

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Speaker 1: imprisoned and deported, you will never return. But if you

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Speaker 1: register using our CBP home app and leave now, you

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Speaker 1: could be allowed to return legally. Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: It can also be technology. As we're moving into AI,

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Speaker 3: which I want to talk about a bit more in

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Speaker 3: a bit, But as we're becoming much more technological and

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Speaker 3: the idea of considering what is equipment continues to evolve,

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Speaker 3: don't not factor in technological equipment and how that can

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Speaker 3: also help automate processes and whatever else you need that

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Speaker 3: stuff or to kind of maximize profit to be able

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Speaker 3: to pay back these things on top of whatever else

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Speaker 3: you got coming in the pipe. Free operating calls merchant

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Speaker 3: advances are basically like credit lines against like your credit

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Speaker 3: card transactions, So like in some ways you're building a

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Speaker 3: relationship where like you don't have to pay those those

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Speaker 3: merchant fees out of pocket because of the line of

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Speaker 3: credit that you have installed with it. That's something that

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Speaker 3: I think is to you know, it's very niche dependent

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Speaker 3: and I think you know, it's something to consider only

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Speaker 3: if it would benefit you. Like, yes, building that relationship

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Speaker 3: is good, but in all the other areas that we've

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Speaker 3: been focusing on over the past couple of weeks, like

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Speaker 3: this isn't something that would be necessary, you know, only

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Speaker 3: if it will provide value and it's something that you

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Speaker 3: think will be beneficial in the long run. And lastly,

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Speaker 3: revenue based loans, So based on the revenue that you

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Speaker 3: bring in as a small business owner, you can actually

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Speaker 3: borrow against that in some ways. So this is a

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Speaker 3: good option for like folks who have steady income streams

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Speaker 3: revenue but don't qualify for those traditional loans. So this

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Speaker 3: could be another space for those of us who are

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Speaker 3: working on our personal reports and trying to get things

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Speaker 3: up to date or just you know, in that crazy

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Speaker 3: process of disputing which you know, the personal credit bureaus

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Speaker 3: are becoming much more aware and trying to you know,

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Speaker 3: keep us from what they know we legally should have

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Speaker 3: access to. But think of this as another one of

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Speaker 3: those options if you needed it, you know, in terms

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Speaker 3: of like I think for my folks who are working

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Speaker 3: on their person. So both the four one K element

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Speaker 3: as well as the revenue based a loan, which could

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Speaker 3: be something that you know, if you're already producing revenue,

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Speaker 3: not only is that good to show in terms of

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Speaker 3: your business plan when you're so listening this this this

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Speaker 3: money from those folks, but if they're utilizing your personal

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Speaker 3: report or looking at your DAT to limit ratio, or

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Speaker 3: looking at your history from your personal credit report and

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Speaker 3: saying that maybe they want to not do something right now,

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Speaker 3: having that revenue would allow them to be able to see, well,

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Speaker 3: even though they're working on themselves as a person, their

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Speaker 3: business is bringing in money way that I think that

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Speaker 3: regardless of where they are as a as a consumer,

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Speaker 3: that they could they could do this based on the

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Speaker 3: revenue that I'm seeing. So they'll will want you to

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Speaker 3: kind of like make that loan based on the revenue

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Speaker 3: that they're seeing and what they would consider you be

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Speaker 3: able to continue to bring.

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Speaker 2: In based on that.

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Speaker 3: All right, so kind of moving into just like an

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Speaker 3: overview of class I wanted to remind us of like

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Speaker 3: those twenty compliance elements that we talked about, you know,

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Speaker 3: in the first week we talked about these first nine.

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Speaker 3: So thinking about just setting up our entity as a whole,

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Speaker 3: making sure that our ei in are dons, all of

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Speaker 3: our demographic information like address, phone number, email, website, all

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Speaker 3: that is up to date, and then after all of

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Speaker 3: that is done, you know, making sure that our credit

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Speaker 3: profiles are up with the four agencies, starting to build

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Speaker 3: those those credit histories and our business profiles, starting with

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Speaker 3: those net thirty accounts or those net accounts depending on

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Speaker 3: what the days are, then move into revolving accounts, which

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Speaker 3: will then help us be able to talk about those

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Speaker 3: last three that I just mentioned, so installment accounts, that

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Speaker 3: bank loan or equipment lease. So bank loan is different

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Speaker 3: from that secured loan that we talked about earlier. So

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Speaker 3: these are like those loans that are not you know

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Speaker 3: that that don't have to fall within like being defined

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Speaker 3: as something that's like you have the person guarantee or

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Speaker 3: secure something. And that's also going to be the space

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Speaker 3: where equipment leasing will also come into terms and in

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Speaker 3: total something that we didn't mention, but I think once

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Speaker 3: you kind of look at having seven at least seven

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Speaker 3: and once in on your net side and then at

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Speaker 3: least five and you're evolving side, trying to have at

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Speaker 3: least a total of fifteen like across all four of

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Speaker 3: your agencies is ideal. Excuse me, because that's going to

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Speaker 3: be what is supporting supportive in maximizing your opportunity to

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Speaker 3: get not just money itself, but larger amounts in terms

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Speaker 3: of the credit that they'll be able to give to you.

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Speaker 3: And of course I don't like I'm gonna I'm gonna

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Speaker 3: move that next time, but like making sure that you're

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Speaker 3: business place is up to date and compliant and showing

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Speaker 3: not just your your market analysis, which is going to

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Speaker 3: be an important space that most people will start at,

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Speaker 3: but like your revenue projections because they want to know, one,

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Speaker 3: do you know the industry that you're trying to penetrate into?

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Speaker 3: What profit do you see yourself being able to accumulate

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Speaker 3: based on your knowledge of being unique in a lot

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Speaker 3: of these markets that are like oversht What I shouldn't

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Speaker 3: say oversaturated but have a lot of competition.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christine Noman, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand and illegal aliens have been arrested. If

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Speaker 1: you are here illegally, your next you will be fine

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Speaker 1: nearly one thousand dollars a day, imprisoned and deported. You

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Speaker 1: will never return. But if you register using our CBP

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Speaker 1: home app and leave now, you could be allowed to

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Speaker 1: return legally. Do what's right, leave now. Under President Trump,

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Speaker 1: America's laws, border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security,