Perhaps your lifelong dream is to build and own your own golf course, but because of the financial obligations, you figure that is about as likely to happen as you winning the next Byron Nelson. What you may not realize is that there are financial facilities that specialize in providing golf course financing to individuals and small businesses wishing to open their own fairways. How can you find golf course financing that you will qualify for, and how much can you expect to secure toward your dream?
First of all, there are several institutions that offer financial assistance toward every aspect of your dream, from financing the land and acquiring a facility to constructing the course and early maintenance as your business begins to unfold. Many facilities offering golf course financing can assist in helping you build and maintain locations nationwide and will help you choose land that will maximize the amount you can borrow.
Some golf course financing comes from specialty locations that actually source several different lenders, finding the best and most competitive offers for your loan. Whether you are building from scratch or simply purchasing, refinancing, or renovating an existing course, you can find help from these institutions. They can tap resources you would never be aware of as a borrower or individual.
The question arises, then, when you apply for golf course financing, how much money can you expect to secure toward your dream? That depends much on the course you are financing, including its value and location. Many lenders can provide over $1.5 million in financial assistance to get you on your way, and some will offer up to $3 million in aid. The best way to secure the most money is to let a golf course financing specialist assist you in finding the most valuable location to plot your course. Especially if you wish to acquire an already established course, you’ll want to opt for one that has a good financial track record and excellent profitability. You’ll also want to be certain prior to applying that you or your business meet the criteria of the financial institution with no hitches. Remember that each inquiry into your credit can knock down the score, so you want as few inquiries as possible.
With so many specialized options for golf course financing, there is no reason to sit back and continue dreaming about opening up your own golf course. Its time to take action. With a little research, you’ll find an excellent opportunity to make use of a specialized lender and bring your dreams into existence!