IFA Recognizes Benetrends for Helping Prospective Franchise Owners Secure Funding
Benetrends has been named the preferred vendor for IRA/401(k) rollover financing solutions by the International Franchise Association (IFA). Both parties understand how securing business funding can change lives. “IFA is pleased to announce this new partnership with Benetrends, who have shown their longtime support for the association and franchising as a whole,” said Matthew Haller, President and CEO of IFA. “Funding solutions are one of the most critical aspects of starting a business, and since it first introduces Rollover-as-Business Startup funding, Benetrends has been a leader in helping aspiring entrepreneurs find an affordable way to achieve their dreams.”
Benetrends and Franchising
Founded by Len Fischer (top photo), Benetrends was started to help entrepreneurs secure funding to start a business. Benetrends is the oldest and largest funding provider in the franchise space and is the original company that created the option to use retirement funds for a business without tax or penalty. The company is known as the architect of 401(k)/IRA retirement funding for the franchising industry.
Benetrends‘ Rainmaker Plan allows for funding with a 401(k)/IRA loan, or a Rollover-as-Business-Startup, without loan payments or interest. This enables potential business owners to use retirement funds for a new business. Benefits of the Rainmaker Plan include improved cash flow and equity. It lets new business owners pay themselves a salary from the start of the business and secure funding in two to three weeks or less.
Rocco Fiorentino, CFE, Benetrends Vice Chairman of the Board, says that the company’s dedication to excellence has kept it going for so long. “Franchising provides entrepreneurial opportunities to so many individuals who would not have them otherwise,” Fiorentino said. “We are proud of the product we have been able to provide at Benetrends for over 40 years, giving a means for more than 17,000 entrepreneurs to achieve their dreams of business ownership and create jobs and prosperity.”