Personal Loans

Maximum Funding Amount

Up to $300,000

Term

Up to 5 years

Rates

7% to 30%

Pros

  • Builds credit
  • Can be used to fund a start-up
  • Quick decision

Cons

  • Fees
  • Credit is a major factor

401k & IRA funding

Maximum Funding Amount

Up to $50,000

Term

Up to 5 years

Rates

4.25%

Pros

  • No application needed
  • Credit doesn't matter
  • You pay with automatic check deductions

Cons

  • Monthly payments
  • Double taxation on the interest component
  • If you leave your employer before loan is repaid, any balance may be treated as a taxable distribution