Financing a Campground Using an SBA 7a or SBA 504 Loan

Financing a Campground Using an SBA 7a or SBA 504 Loan

I am just about to write up an offer to purchase a campground. What are the best financing options? The campground is located in Northern California. It has 135 campsites, a general store, a laundry facility, and 28 RV hookups. Cashflow appears to be very strong. Seller is relocating out of the country and would probably consider carrying a small note. Purchase price should be $2,495,000.

Thanks,
Julia

Timestamps
[00:40] It could be a possible USDA deal if the property is in a rural area
[01:02] Two best options for these types of deals
[01:09] Get a bit higher leverage with the SBA 7a loan
[01:23] Evaluating the possible financing options
[01:37] There are different tools and benchmarks to look at
[01:48] Most lenders do not do USDA
[01:58] Why do most lenders do SBA 7a?
[02:59] A 10-day process to get preliminary approval back
[03:07] A lot of people are scared about SBA and USDA
[03:24] All these loans are generally not difficult – usually a 60 to 75 days timeframe to get the deals closed

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