Main Street Real Estate Strategies
Borrowing for Development
By Krista Kendall and Sarah Greenberg | From Main Street Story of the Week | July 2007 | 241
 |
msnews-2007-07.pdf |
Whether your Main Street program is taking on a white elephant or if it is assisting another community group tackle a rehab that no other developer has touched, the group who is acting as a developer will need loans and will have to be a strong applicant in order to get approved. This article presents an inside perspective on what makes a good applicant, what information the applicant should be prepared to share, how to write a business plan, how to approach a lender as well as tips for underwriting the loan, repayment, and building a sources and uses budget.
