$10,000 is nothing. If very successful he would not need to borrow $10,000. As another poster mentioned, there are other investments providing similar returns with little risk now available. Some FDIC-insured banks are advertising one-year CDs at 5%. Is the extra $200 per year (perhaps $125 after taxes) worth the risk and worry?
$10,000 is nothing. If very successful he would not need to borrow $10,000.”
I should have made it clear that he is looking for several lenders including SBA. If the SBA process becomes onerous, He’s going with a loan from the owner of the nursery/bee business and other individuals. Sorry about that.