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Need $38,000 any suggestions?

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  • LVFD301
    replied
    There are numerous options for funding via a loan, even a municipal
    lease, $1.00 buyout at the end of the lease term. The only issue would
    be a legal one, they may want you to use the truck as colateral, and I
    am not sure if FEMA would like that.


    Your local banks are your best source, if you need some leasing contacts
    let me know.

    Leave a comment:


  • Ladder5B
    replied
    It was an AFG grant for $225,000 federal share. As far as cutting items I may be able to save a few thousand but there is not a lot of bells and whistles. It's my understanding that a majority of the items have arrived at the manufacturer and waiting for installation. Thank you all for your input.

    Leave a comment:


  • LVFD301
    replied
    Time to knock something off the truck. Change from LED's to rotaters. Drop
    some things...

    If it is 4-6 weeks until delivery, you have time to act.

    Its not a popular thing to do, but it will work. How much did you
    get awarded for the truck in the first place?

    Leave a comment:


  • ameryfd
    replied
    Originally posted by AFD2181
    Was this a AFG grant?

    Kurt, Brian or Alana could tell you better, but I would think you could file an amendment to your grant with justification.
    Problem is, amendments just amend items in your grant, but they won't amend the amount you were awarded.

    Leave a comment:


  • rfd599
    replied
    Ladder5B:

    Here are a couple of suggestions:

    1) Try a local lender, explain your situation and since they are local they may be more apt to allowing extended terms or at least will give you financing for 5-10 years with the option of re-financing at a variable rate.

    2) Call Baystone Financial in Manhattan, KS. They specialize in providing financing for the fire-rescue market and also may be able to give you some financing options. Typically, they will only give you a fixed rate for up to 10 years before you have to re-finance, and at that time you can get an additional 5 years.

    They also have a small loan program, if still available, that you can pay 10% down and defer payment for up to 12 months. At that time you then will have payments for up to five years.

    Baystone's # is: 800-752-3562, ask for Blake Kaus or Ryan Sloan.

    3) Call Government Capital. They also have an arm that specializes in providing financing for the fire-rescue market and may be able to help. I am not as familiar with them, but I believe they are located in Louisiana. Their # is 800-883-1199.

    Good luck and I hope this helps!

    rfd599
    www.IllinoisFireStore.com

    Leave a comment:


  • AFD2181
    replied
    Was this a AFG grant?

    Kurt, Brian or Alana could tell you better, but I would think you could file an amendment to your grant with justification.

    I would call your local DHS rep. and ask them also.

    If all else fails I believe your local bank can hook you up with a loan and the rate is better the USDA...some program whereby they have to give loans to local gov at a better rate; either NEIOWA or GREENACRES mentioned in a post somewhere.

    Leave a comment:


  • Ladder5B
    started a topic Need $38,000 any suggestions?

    Need $38,000 any suggestions?

    We received a grant for an engine. We have our match but with increasing costs and other options spec’d we have a balance of $38,000 to come up with. I’ve worked with a private corporation for three months and felt we had a corporate donation for the balance. My feeling went wrong. They advised us yesterday they could not help. The engine will be completed in 4-6 weeks and I need to find money. I’m calling our state and national politicians for assistance and I’ve checked with lending companies. The lending companies are happy to loan the money at a term of up to 7 years. With our budget, we need to extend the loan to 10-15 years with the goal of paying it off early. I’m also checking into USDA rural development loans but I think my time frame is too short to obtain one. Does anyone have other suggestions or know a company that will do an increased loan term? Thanks for any help you can give.
    Lesson learned: “Always have a backup plan”

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