Has anyone her obtained an SBA loan?
 

I want a loan, not for porn. How hard are they to get?

If your not a minority, good luck.

Lol really? I knew being a white male switched from a good thing to a bad thing a few years before the millennium ended... I guess someone else gets 1000 years now.

Minority or female just makes it easier, does not mean shit if your just a white male. You just need a strong business plan, gets SCORES help plus whatever other business help you can get. Go in strong and well prepared. If everything looks good you typically are good. My brother has gotten two of them.

If you go for a SBA loan, they will want collateral...like your house or something equivalent.

I would not do it. I have spoken to others that have gone this route and have ended up regretting it.
Go for some government grant, these asshole are giving money out to everyone around the world, why not you.

Good luck :winkwink:

Its for house flipping. I doubt there is a grant for that. People seem to look down on it. They even pretend like it isn't profitable any more. That is a joke. If I had 500k to play with instead of 100k I'd be rolling in profit.


Thanks everyone!

indeed. if not, pick up a partner who is a minority female and your chance of getting a loan with as little collateral as possible will be much higher.

i tried to get one a few months ago and they want a pretty big amount of collateral even with proof of a successful business for 4+ years

Getting an SBA loan is pretty difficult for average white guys. A friend of mine several years ago started a landscaping business. He started doing pretty well and wanted to get a loan of about 7K to get some new equipment that would let him offer more services. He went to the SBA and they flat out told him that if he were a minority or a woman they could give him a lot of options, but since he wasn't either of those things they would need a bunch of collateral and if he has that kind of collateral he could get a better interest rate at a bank.

If you have $100,000 to flip houses, why do you need $500,000?

And if flipping houses is so profitable, you have experience with it, and are good at it... why do you need a loan? With your profits and experience you should already have the money you need to continue flipping.

Those are some of the questions people are going to be asking.

How many "flips" did you do this year? what kind of profits did you get? ...but either way, you are out of your mind thinking that you will get 500k to "flip" houses...

sba will not loan for that even if you are a black midget female thats a world war 1 vet

you need to start a investment pool to do that, build up some credibility and track record then go out there and find guys who have money burning holes in their pockets and talk em into investing with you

Kane very rarely will they say if you were a ....
Plus 7k is not enough money to loan for the SBA. They want to see more money being put into use, how many jobs it will create, things alongs those lines.


Yup, no SBA for flipping. That is not a sound business plan nor can you actually plan it out on paper that well without pulling numbers out of your ass.

Yes there would be money in cheap flips, and even more in REO buys turned into rentals. However there are funds already set aside from that. A whole loan program actually.

That was my experience back in 1990. They even told me that fact.

:mad:

might want to try asking my good pal cheddah (tha hustla)

Where are these houses you plan to flip? There are houses that were selling for $180K-$200K now on the market for $85K and still no buyers in certain parts of Florida.

I wasn't with him so I don't know exactly how they worded it. If I remember correctly they told him that most of their loan help right now is aimed at minority and female ran businesses. So they probably didn't just say to him, "If you were..." and I'm sure he exaggerated a little bit.

total fucking PITA man if you can do something else, do it. I tried and it was a complete nightmare and not worth the effort. Get a personal loan instead much easier