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offer a variety of financing products to satisfy your needs. Whether
it’s a golf course acquisition, a golf course development
loan, or a refinance, our golf finance professionals will work closely
with you to customize your loan. We can provide financing of up
to $200 million. Because our loans are based on the cash flow performance
of the golf facility, all properties are eligible as long as they
are profitable and thrive on golf as the mainstay of their business.
Our full complement of golf course financing solutions includes:
Acquisition
Financing & Refinancing on Existing Operations:Whether it's your first golf course or you’re fifth, our acquisition and refinancing loans can be tailored to fit your requirements. We will work with you to structure a loan that enables you to purchase your golf course without delay. We can also structure a loan so that you can fund additional dollars later as an "earn-out." These "earn-outs" let you receive the money you need by getting our commitment to advance you more money once the golf course generates higher cash flow. Need to make capital improvements to your new or existing course? At First Financial Bancorp, we can give you the extra capital you need to fix up that clubhouse or improve the course conditions. We can also set up seasonal payment structures that align your cash flow with your payments. Just tell us what you need and we will structure a deal to get it done.
Development
Loans:We offer a variety of development loans to help you get that new course up and operating. Takeout loans and construction loans are just a few examples of how the Golf Finance Division can structure your financing to fit your development needs.
Our acquisition and refinancing loans typically have the following characteristics:
Most loans
are 5 to 7 year a term with a 15 to 25 year amortization.Commitment
fees vary, but are usually 2% of the loan.Minimum
loan amount of $2MM and maximum loan amount of $200MM.Competitive
fixed and floating rates available.Good faith
deposit of $15,000 - $25,000.Equity
of at least 25%.Historical
debt service coverage ratio (DSCR) of 1.30x or better.
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CA Dept of Real Estate Broker License 01144023