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