The Madison Group (TMG), a leading national lending source for RV Park financing, arranged a $2,225,000 loan to refinance and cash out of an existing RV Park in Pennsylvania. The client reached out to The Madison Group and needed a bridge loan immediately. The Madison Group quickly reached out to private RV park bridge lenders and found a bridge lender that could accommodate the client’s needs. Through diligent efforts by the lender, client, attorneys, and The Madison Group, the client received a bridge loan prior to the maturity of the existing loan.
Location: Pennsylvania
Property: 238 pad RV Park
Loan Amount: $2,225,000
Interest Rate: 12%
Term: 3 years of I/O
Prepayment: None after 6 months
LTV: 50%