Lending Update

It is very difficult to obtain a recreation loan in today’s uncertain economy.  While banks are leery of lending to recreational properties they are interested in government guarantee loans.

Funding for fire, safety, community centers, libraries, private schools, resorts, RV Parks, hotels and other income-producing properties.

USDA CF program guarantees up to 90% of bank’s loan at a fixed or adjustable rate based on prime.  Term is 25 to 40 years.  If your project cannot be funded by USDA-CF, you may want to consider using B&I or SBA, who also guarantees loans with owners cosigning the loan.