The Madison Group (TMG), a leading national lending source of
RV Park financing arranged the $2,500,000 refinance for a 100-unit RV park with
a 10 year term and 25 year amortization at 4%.
The borrower’s goals were met by obtaining a lower rate and
providing a longer term on the loan. This created more cash flow and paid off a
seller contract that was coming due. One obstacle that was overcome was the
primary income is derived from long term rentals. The borrower’s received some cash out to
continue to enhance the park.
TMG was able to close the loan in a timely manner and assure
the terms of the seller contract by working with a trusted lender from start to
funding.
Location: Washington
Property: RV Park
Loan Amount: $2,500,000
Interest Rate: 4%
Term: 10 Years
Amortization: 25 Years
Prepayment: 3/2/1
LTV: 65%