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Buying a Fedex Ground Route
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<blockquote data-quote="bacha29" data-source="post: 2284741" data-attributes="member: 58386"><p>True, but the SBA will only guarantee no more than 75% of a loan of $150,000 or more 85% if less than $150,000 but that's the maximum leaving the lender on the hook for the rest. Furthermore the interest rate can be as high as 2.75% above the base rate. Plus a loan processing fee along with annual service fee. While it can be a solution from the contractor's perspective as well as the lender it's anything but a sure bet. Coming back to the guy who bought my route his father was all too happy that I would finance the entire purchase because of his belief that the SBA would not guarantee a high percentage of the loan leaving a higher exposure than he wanted his bank to take on.</p></blockquote><p></p>
[QUOTE="bacha29, post: 2284741, member: 58386"] True, but the SBA will only guarantee no more than 75% of a loan of $150,000 or more 85% if less than $150,000 but that's the maximum leaving the lender on the hook for the rest. Furthermore the interest rate can be as high as 2.75% above the base rate. Plus a loan processing fee along with annual service fee. While it can be a solution from the contractor's perspective as well as the lender it's anything but a sure bet. Coming back to the guy who bought my route his father was all too happy that I would finance the entire purchase because of his belief that the SBA would not guarantee a high percentage of the loan leaving a higher exposure than he wanted his bank to take on. [/QUOTE]
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