Educating small banks on the industry


#1

I’m purchasing a park and likely going to be working with a small local lender that has minimal experience with parks. Most lenders turn their nose up at parks, but I think that’s entirely based on bias and not rational analysis.

Does anyone have any resources about the industry that could be helpful to share. For example, I’ve heard that MHP loans have the second lowest default rate within the commercial lending industry. Does anyone have any solid sources on that?


#2

Don’t bang your head on the wall trying to convince somebody to do something. You will be much better off finding a bank that lends on parks, than trying to convince one