Approval isn't luck. Buyers who close smoothly do the same handful of things before they ever talk to a lender. Here's the order of operations — from checking your own numbers to walking in with a package that gets a yes.
Most deals that stall don't stall because the park is bad — they stall because the borrower showed up unprepared and the lender lost confidence. Preparation is the cheapest edge you have. It costs you a few weeks of gathering and it can be the difference between a clean approval and a drawn-out no.
Work these steps in order. Each one sets up the next.
Before a lender runs them, run them yourself. Pull the park's income and expenses and find the net operating income (NOI). Then sanity-check that the NOI comfortably covers a loan payment at realistic terms — that's the debt service coverage ratio (DSCR) the lender will test.
To calculate it, divide the park's annual NOI by its annual loan payments. Most lenders want a DSCR of about 1.20–1.35 — the park's cash flow needs to run 20–35% above the debt payment. Below roughly 1.20, the lender shrinks the loan or passes. If the numbers are thin, you want to know now, not in underwriting.
Look at what the lender will see about you: credit, net worth, cash available for the down payment, and your experience. SBA loans on parks typically want roughly 10% down (sometimes as low as 5% with a seller note on standby) and a personal guarantee. Know where you stand on each before you apply.
This is the bulk of the work, and it's a known list — rent roll, P&L, tax returns, personal financial statement, business plan, and more. Assemble it completely before you submit; a half-gathered file is the number-one cause of delay.
Especially if this is your first park, the plan is your credibility. Show you understand the market, how you'll operate, and a forward forecast tied to honest assumptions. First-timers close all the time — by proving they've thought it through, not by pretending to be veterans.
Put everything in one clearly-labeled folder in the order a lender reads it. An underwriter who can find every document in ten seconds trusts the borrower more than one hunting through a mess. Presentation is a signal, and it's free.
Don't cold-call banks one at a time explaining what an RV park is. Submit your prepared deal to lenders who already understand the asset class and compare their terms. That's the payoff for all the prep — you walk in ready, and you get real offers back fast.
Submit your deal once and see which SBA and commercial lenders fund RV parks — side by side, no cost to compare.
Compare RV Park Loan Options →