Use the Hard Money Lender Search to find the right golf course hard money loan. Which lenders offer financing for golf courses? Many banks, private lenders and non-banks offer loan programs for golf courses. Use the search engine, above, to see how many of the 130+/- lenders in our database that have the ability to fund your loan request.
Full Answer
Should you finance a golf loan through a golf club?
The best reason to consider financing through a golf club is if it has a special arrangement with the lender, such as a 0% interest or low interest rate promotion. These are typically unsecured personal loans, so you will need to qualify based on your credit and employment history as well as your income.
Does first national do golf course Financing?
Whether you're a broker or property owner, First National has golf course financing loans to buy new golf course properties and acquire raw land. Construction loans for new golf courses and facilities is available with First National's commercial mortgage financing.
Can I refinance my Progolf course?
Proven golf course facilities may qualify for a refinance loan to reduce the costs of their golf course and clubs. If you'd like to offer members a way to finance their initiation fees and club dues, First National may be the right partner for you.
Can I get a commercial mortgage for a golf course?
For existing golf and country clubs, a commercial mortgage loan is ideal for golf course renovation, improvements, and repair. Proven golf course facilities may qualify for a refinance loan to reduce the costs of their golf course and clubs.
Golf Course and Club Financing
First National golf course acquisition loans are available for large and small golf course and club properties nationwide. Success depends on having the right lender to work with you throughout the buying process as well as after the loan closes. First National is the trusted lender to the golf club community.
Club Membership Lending
Increasing the number of the golf course and club memberships are among the most important factors that lead to a golf course’s success and profitability. First National wants to help. We offer direct golf club member loans and financing for private, semi-private and private membership courses. Strong sponsorship and management are required.
Short-term Bridge Loans
For borrowers unable to historically document income, or require non-traditional financing, First National provides bridge loans for golf courses and clubs.
What is the benefit of working with a specialized lender such as First National?
One of the benefits of working with a specialized lender such as First National is that we are experts in the business of golf course financing and construction mortgage loans for new golf courses.
What is the first national refinancing program?
First National refinancing programs have been effective for golf courses all over the country, enabling them to increase working capital for renovation and repairs, make general improvements, replace equipment, or simply consolidate debt. Above all, we make loan decisions in-house, and close loans efficiently.
Does First National offer financing?
First National offers specialized golf course financing. Because of this, we enable every aspect of a golf club’s needs, from the purchase and acquisition of land, new golf courses or clubs, to construction, renovation and remodeling, as well as refinancing of an existing golf course.
How long does a golf membership loan last?
There are many lenders offering unsecured loans anywhere from $1,000 to $100,000. The loan term can be as long as seven years or as short as one year, allowing you to fit the payment to your budget.
Can I wait to save money on golf membership?
You could wait several years to save the money you need, but then you would be missing out on the returns of membership – the business relationships, the professional training to improve your game, the freedom to golf on a championship caliber course whenever you want.
Do you have to pay a green fee to swing a golf club?
By the way, there are no green fees. Of course, that is because you will have paid a considerable initiation fee on top of monthly membership dues for the privilege of swinging your clubs as often as you’d like. However, most people don’t have ten, twenty, or fifty thousand dollars lying around for an initiation fee.
Can I get a golf club loan with 0% interest?
The best reason to consider financing through a golf club is if it has a special arrangement with the lender, such as a 0% interest or low interest rate promotion . These are typically unsecured personal loans, so you will need to qualify based on your credit and employment history as well as your income.
Do golf club membership dues cover locker rental?
Your monthly dues may or may not cover the cost of ancillary amenities such as golf carts, a locker rental, or club storage. How much you end up paying for a golf club membership depends on a number of factors, including the type of membership, location, the number of public and private courses in the area, and the quality of the club’s course.
How long can a new owner of a golf course live without money?
Moreover, the new owner should be able to support themselves for a period of six months to a year without drawing money from the golf course. There may also be capital expenses that may be incurred upon acquisition. Some of these may be known from inspections done prior to acquisition.
Can a golf course have positive cash flow?
One should not count on a golf course being able to provide a positive cash flow immediately, especially if under new management. Too many variables, including uncontrollable ones such as the weather and the timing of the turnover, can make the f irst several months difficult.
What to do when buying a golf course?
The first thing to do when you want to buy a golf course is to carry out financial analysis on the business. A potential buyer’s first analysis of a business will likely be numbers driven. Buyer will evaluate income and expense in gross, by categories, by trends, etc. If you are interested in the business, you should ask for detailed financial information.
When buying a golf course, should a buyer review existing contracts?
When buying a golf course, a buyer should review existing contracts to determine which can and which must be assumed by Buyer. When leases expire and whether Buyer can negotiate more favorable terms with lessors will factor into Buyer’s analysis and the purchase price. There may be some contracts you will require a Buyer to assume, and you need to have your list of deal points prepared before negotiations begin.
What is a CMBS loan?
Similar to life insurance companies, CMBS or Commercial Mortgage-Backed Securities loans, also commonly offer non-recourse loans where you can avoid personal liability in the case of a loan default. However, unlike life insurance companies, CMBS loans are even more restrictive. Your loan will be standardized, leaving little room to tailor the loan to your particular needs. Additionally, there will be far less personal involvement in the oversight of your loan as the ongoing management will be handled by a third-party.
What is conventional financing?
With conventional financing, banks will typically offer you a recourse loan to help get you started on your golf course. Conventional financing offers more flexibility in both pricing and your loan structure along with a more personal relationship with your lender. This personal relationship allows your lender to better customize your loan to meet your specific business goals and provide ongoing loan management support as your needs evolve.
What is hard money loan?
In some cases, the borrower can use bank statements instead of tax returns, and can qualify with a FICO score as low as 500. In exchange, the lender will offer a higher interest rate but may be able to close in a matter of days or weeks. Hard money loans are equity based, meaning that LTVs of 50% to 65% are common.
Is private equity financing more flexible than traditional financing?
This is one of the most popular financing options for businesses. Private equity financing allows you far more flexibility than traditional loans. With few stipulations, private equity lenders are free to lend on whatever they see as a viable business opportunity and set their own loan parameters. Essentially, they have a lot of buying power and are willing to take on more risk than other lending sources.
