this post was submitted on 22 Sep 2024
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Did no one in the replies happen to notice that this is a loan
It's a federal loan. Meaning there are probably very favorable terms. Things like principle forgiveness, "negative interest" (yes that's a thing that has happened, at least in the US), etc. There becomes a point where it is essentially no different than free money.
Terms that only corporations and uber-wealthy get. And maybe some local municipalities if your state isn't a complete shithole.
Says right in the article that the rate is 9%, and they give up a 10% stake in the company.
I got better terms than that on a CAR loan last month...