The Madison Group (TMG), a leading national lending source of RV
Park financing, arranged a $1,180,000 cashout refinance loan to facilitate the
expansion of an RV Resort in Louisiana. The loan proceeds will help transform
the park from 81 pad sites to 117.
TMG was able to work with a trusted lender that saw the client’s
vision of expanding the park given the demand that they had for longer term
rentals. The loan will help fund the 36-pad development that the client needs
to fulfill the needs in the community.
Property: RV Park
Location: Louisiana
Loan Amount: $1,180,000.
LTV: 65%
Interest Rate: 5yr
Fixed Rate – 8.5%
Term: 20 years
Amortization: 20 years
Prepayment: 3,2,1
Guarantee: Recourse