IRA Financial Group, the leading provider of self-directed IRA LLC solutions, announces the introduction of the special “checkbook control” IRA LLC solution for hard money lenders. The newly designed self directed IRA LLC solution was introduced specifically for hard money lenders in the small business and real estate industry in order to take advantage of the attractive returns available for private financing of small business and real estate transactions. Banks generally require solid credit scores and spend weeks reviewing financial statements, tax returns and business plans. Various nontraditional lenders have stepped into the void. Many of these nontraditional lenders have decided to take advantage of the lucrative private lending financing market, and have started using their retirement funds, either via a self-directed IRA or solo 401(k) Plan to make private loans and generate tax-deferred returns. “We have experienced significant demand from hard lenders looking to use retirement funds to make private loans to small business and real estate builders, “ stated Adam Bergman, an in-house tax advisor with the IRA Financial Group. “With the lack of financing opportunities available to some small businesses and home builders, IRA Financial Group’s hard money lending self-directed IRA LLC solution will allow hard money lenders with IRA or 401(k) plan funds to make loans and defer the tax due on the returns, “ stated Mr. Bergman.
The primary advantage of using a Self Directed IRA LLC to make hard money loans is that the loan can be made by simply writing a check. In addition, all income and gains associated with the self directed IRA hard money loan would grow tax-deferred.
With IRA Financial Group’s self directed IRA hard money lending solution, traditional IRA or Roth IRA funds can be used to make secured or unsecured private loans to small business owners or home builders. “According to many hard money lenders looking to use IRA funds to make private loans, they are being approached by borrowers with financial sound projects but just can’t secure a loan from a bank or traditional financial institution, “ stated Jacky Ospina, a retirement tax specialist with the IRA Financial Group. “The typical borrower is a restaurant, auto-body shop, beauty salon, retailer, or physician seeking about $40,000—businesses that often have trouble getting traditional bank loans, “ stated Ms. Ospina.
IRA Financial Group’s Self-Directed IRA for hard money investors, is an IRS approved structure that allows one to use their retirement funds to make hard money loans, either secured or unsecured, to any non-disqualified third-party by simply writing a check. The Self-Directed IRA LLC involves the establishment of a limited liability company (“LLC”) that is owned by the IRA (care of the Roth IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA owner will have control over the IRA assets to make traditional as well as non-traditional investments, such as hard money loans by simply writing a check
Using IRA Financial Group’s self directed IRA LLC with “checkbook control” solution to make hard money loan investments offers hard money lenders the ability to make loans quickly without any custodian delay. “By using a “checkbook control” self-directed IRA LLC our clients have been able to make IRA hard money loans quickly and without any custodian delay,” stated Ms. Ospina.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading “checkbook control Self Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
To learn more about the IRA Financial Group please call 800-472-0646.