Commercial Mortgage Overview
Applicants are expected to have an experienced business acumen.
Contribution is usually in the region of 40% for private clubs, or 50% for driving range developments. The period of repayment is normally up to 15 years.
Commercial Mortgage for Golf Clubs
Sector Definition
Most lenders are not attracted to providing new course development finance, due to the level of risk involved. However, by using a broker, they may be able to source a lender.
Documentaion Required
- A copy of club's constitution and rules to ensure the club can borrow and grant security.
- Financial information of profit and loss accounts to substantiate income from membership fees and other revenue sources.
