Real Estate Business Plan

Hello everyone! I’m new to this site. I am a new investor, and I was wondering have anyone of you submitted a business plan to SBA with the goal to renovate properties to either flip or buy&hold/rent I plan on finishing up my business plan, but I’m wondering what’s the success rate for people who submit these kind of business plans to SBA. Any advice? :help

What do you want from the SBA? I don’t think the SBA can issue mortgages.

Yeah, I agree. I don’t know why you’re submitting your plan to the SBA… are you trying to get an SBA loan for your development activities?

I’m not trying to get mortgages; I’m trying to do cash deals on rehabbers. It is for community development. I can possible qualify for a CDC/504 loan. I’m in Michigan and the houses in the urban areas are going as low as 1,500.00. My plan is to purchase homes cash and fix up. So I was wondering if anyone has ever applied for an SBA loan of that nature.

The problem with the CDC/504 is that you need to create and maintain one job for each $50K that they loan you.

Unless you are planning on rehabbing commercial area, you will have a hard time getting this approved, I imagine.