Category: Finance News

Kimball Lake and Parker Lake RV Parks in Jackson, AL Included in $2 Million Investment

Gov. Kay Ivey announced that Jackson’s Kimball Lake and Parker Lake RV parks have been included in a $2 million investment the state is making in recreational trails for public use. According to a press released from the governor’s office, $350,000 has been allocated to construct a 1,000-foot-long, 8-foot-wide, multi-use boardwalk at Kimball Lake. The boardwalk is the first phase of a project that when completed will connect Kimball Lake RV Park with Parker Lake RV Park, both located near the Tombigbee River. “Trails are the ideal invitation to get…

Anticipated Changes to the SBA Rulebook

On April 11th, 2023, the Small Business Administration (SBA) released their final rule, which includes eligibility and procedural changes that make SBA 504 financing even more obtainable. The SBA aims to make the SBA 504 loan available to more small businesses by relaxing eligibility criteria, reducing required documentation and implementing an updated credit policy. They anticipate the changes to go into effect, May 12, 2023. Changes are subject to SBA’s release of guidance and procedural notices. Highlights of changes: No more Franchise Directory Simplified Affiliation Rules Affiliation is now generally…

SBA 504 Loans for Your RV Park Business

Add stability and predictability to your RV Park business by locking a portion of your real estate financing into a long-term, fixed-rate product using an SBA 504 loan. A 504 loan has three components: Equity injection provided by the borrower – typically 10% of the project but can be 15% – 20% in certain instances as in the case of start-ups or unique situations Term loan provided by Bank Five Nine – typically 50% of the project Debenture loan provided by a Certified Development Company (CDC) – typically 40% of…

Hi Way Haven RV Park Now a KOA Campground

Kampgrounds of America has announced that Sutherlin’s Hi Way Haven RV Park is now the Sutherlin/Umpqua Valley KOA. Jim and Danielle Remley are the owners. The facility has RV sites with full hookups and 50/30-amp service, as well as some sites with water and electric hookups and 30-amp service. Tent sites have water and electric hookups, a concrete patio with furniture and a privacy fence. Amenities include 24-hour laundry, Wi-Fi, two Kamp K9 dog parks, clubhouse, playground, game room, horseshoes, frisbee golf, barbecue deck and pavilion. Located at 609 Fort…

Expect a Lot of Turnover in Campground Ownership This Year

There’s a good chance longtime RVers will see many new faces when they check into their favorite campgrounds this summer. Campground owners are handing over the keys. Many campgrounds—just like houses—have been selling well above asking prices and sparking bidding wars among potential new owners. Seasoned campground owners are pulling the plug, cashing out, and heading to retirement or other business opportunities. Join the campground-purchasing fray? So, should you sell your house, cash out your retirement accounts, and join the campground-purchasing fray? Many individuals are doing just that, even if…