Investors searching RV park refinance, campground refinance, and RV park cash out refinance need financing aligned with seasonality, infrastructure age, and occupancy trends — outdoor hospitality assets rarely fit residential DSCR boxes.
Jaken Finance Group finances RV park and campground bridge refinance and cash-out nationwide — all 50 states. Acquisition hub: RV park and campground financing guide.
Compare: SBA vs bridge for campgrounds · RV park loan rates 2026 · how to buy an RV park
Refinance types compared
| Type | Best when | Leverage | Timeline |
|---|---|---|---|
| SBA 7(a) refi | Owner-operator, under $5M | Up to ~90% | 60–120 days |
| SBA 504 refi | Real estate + equipment | 10% equity common | 90–180 days |
| Bank commercial | Stabilized 75%+ occupancy | 65%–75% LTV | 45–90 days |
| Bridge refi | Not yet SBA/bank ready | 65%–80% LTV | 14–30 days |
| Cash-out | Extract equity post-PIP | 65%–70% LTV | 30–90 days |
Bridge rates: 8.99%–13.5% IO. SBA 7(a): roughly 10%–11.5%. Conventional bank: 6.5%–8% on stabilized NOI.
Bridge-to-SBA path (summary)
Typical sequence: acquire on bridge → PIP / marketing → stabilize ADR + occupancy → refi to SBA or bank. Target 75%+ trailing occupancy and 1.25x DSCR before permanent refi. Full phase-by-phase playbook — not duplicated here: SBA vs bridge for campground acquisitions.
Seasonality and DSCR on refi
Lenders require trailing 12-month NOI — not peak summer annualized:
| Factor | Requirement |
|---|---|
| Monthly occupancy | Show winter trough |
| ADR trend | Rate growth vs discounting |
| Debt service reserve | 3–6 months PITIA on bridge |
| Infrastructure | Water, sewer, electric age |
Cap rates: RV park cap rates and valuation
Cash-out use cases
| Scenario | Why |
|---|---|
| Post-PIP equity | Extract capital after amenity upgrade |
| Next acquisition | Recycle into second park |
| Partner buyout | Buy out at stabilized value |
| Working capital | Seasonal cash flow bridge |
Worked example — 65-pad refi after PIP
| Phase | Detail |
|---|---|
| Bridge acquisition | $1.8M at 70% LTV |
| PIP | $220K — bathhouse, pad electric, signage |
| Month 18 | 82% occupancy, ADR +12% |
| Refi | SBA 7(a) at 75% LTV |
| Cash-out | $140K for glamping expansion |
Glamping: outdoor hospitality financing
When to refi now vs. carry bridge longer
Permanent refi makes sense when trailing 12-month NOI supports 1.25x DSCR at bank leverage — not when peak summer revenue is annualized. Bridge carry is often cheaper than forcing a refi that fails DSCR and triggers rate resets or extension fees.
| Signal | Action |
|---|---|
| 75%+ occupancy for 90+ days, winter trough documented | Start SBA or bank refi |
| 65%–74% occupancy with ADR growth | Bridge rate-and-term or short extension |
| PIP in progress with holdback remaining | Finish CapEx before permanent refi |
| Partner buyout at stabilized value | Cash-out bridge → permanent within 12 mo |
| Second acquisition recycling equity | Cash-out at 65%–70% LTV if DSCR holds |
Rate bands and program fit: RV park loan rates 2026 — this page does not duplicate the full rate matrix.
Refi readiness checklist
| Document | What lenders verify |
|---|---|
| Trailing 12 P&L | Monthly occupancy — show winter trough explicitly |
| ADR trend | Rate growth vs. discounting to fill pads |
| Utility bills | Water, sewer, electric capacity vs. pad count |
| Insurance quote | Flood, wind, liability — coastal and mountain zones |
| Environmental | Septic capacity, well tests, propane tank age |
| Existing loan payoff | Prepayment penalty, extension terms on current bridge |
Common refi mistakes on RV parks
- Annualizing July occupancy — underwriters use T-12, not peak month
- Ignoring deferred infrastructure — bathhouse and pad electric age affect appraised value
- Cash-out without DSCR headroom — new payment must clear 1.25x on actual rent roll
- Mixing transient and long-term revenue without segment reporting
- Skipping USDA B&I on rural parks — may beat bank pricing when eligible
State market examples
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RV park refi rate bands (2026)
| Product | Rate band | LTV target |
|---|---|---|
| Bridge refi / cash-out | 8.99%–13.5% | 65%–75% |
| Bank permanent | Quote-based | 70%–75% stabilized |
| DSCR (select smaller parks) | 5.75%–10.5% | 70%–75% |
Full acquisition hub: RV park campground refinance loans · how to buy an RV park · (833) 264-7776
RV park refi — when bridge IO converts to term debt
Stabilized 95-pad park · $3.2M appraised · 82% occupancy
| Refi type | LTV | Rate expectation |
|---|---|---|
| Bank term | 65%–70% | Fixed 6.5%–8.5% |
| SBA 7(a) | Up to 90% on qualifying | SBA + bank spread |
| Cash-out bridge | 60%–70% | 8.99%–13.5% if not yet bankable |
Model seasonal trough before refi — lenders stress November–February in mountain markets. RV park financing guide · Georgia example · commercial calculator.
Rates, terms and conditions offered only to qualified borrowers and are subject to change at any time without notice. All loans are subject to full underwriting for loan approvals. Jaken Finance Group only finances non-owner occupied investment properties.