Small business owners are taking from their retirement and savings in order to keep their businesses afloat. A Pepperdine University and Dun & Bradstreet Credibility Corp. study “found that 42 percent had used personal assets to fund their companies.” It’s not hard to imagine that small business owners may have been pulling from their personal savings and retirement accounts to keep up with business loan payments and to keep their businesses afloat.
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Small business owners having trouble paying back their bank loans and SBA loans have other options besides sacrificing their retirements. A qualified debt settlement attorney can negotiate for large reductions in their clients’ debts. Explore your options by contacting a debt settlement attorney today.