Knowledgable Banks!


#1

My credit union here in Michigan is very clueless when it comes to Mobile home parks. My park makes 70,000 a year and they wont even approve for a credit card for 3000 and there reason is that even though it shows I make 70k a year next year it could be -50,000. Yes she thinks one year I could make 70k and the next year I could be negative 50k. This statement told me she has never dealt with a mobile home park owner and after asking she confirmed this thought. My question is do any of you guys know any banks or credit unions in Michigan that understand mobile home parks? Or nationwide branches that will do unsecured loans.


#2

To clarify, are you looking for a bank that would do an unsecured loan for your mobile home park?


#3

looking for a bank that understands mobile home parks and yes does unsecured loans.


#4

I think you’d be hard pressed to find lenders who do park loans that are unsecured.

You could try and contact First Secure Community Bank in Sugar Grove IL ( John Medernach ) if the loan size is at least 500k. I think they will look at deals in MI and are park lenders .


#5

@wrest123 did you have any luck on this? I am looking for banks / cus that lend on parks. I have spoken with John mentioned above and he seems to be a great guy with good experience.