Financing an RV park using an SBA 7a loan
Manage episode 352961853 series 2894492
Question: I am looking at purchasing an RV park in the Midwest close to a lake. The business is mom and pop owned and has not been managed well over the past few years as the owners are getting older.
I don’t think the cash flow right now would show well from a banker’s perspective.
There is a ton of upside. I am figuring that property needs about $300k in upgrades. The asking price is $1,175,000.
What might be the best financing option?
Thanks in advance,
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