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Revived Mountain Ski Lodge $1,025,000 Loan

"Among all the institutions we requested financing information from, 44 Business Capital had the documentation package for the shortest amount of time and got the job done. We have begun work to preserve the historically significant Woodside Inn while complementing our existing business - the Spring Mountain Ski area just over the mountain!"

Rick Buckman, Owner
Woodside Lodge at Spring Mountain

CHALLENGE

The borrower was seeking permanent financing for the renovation project of Woodside Inn. The borrower purchased the property in March of 2011 and began renovation/construction on the property to convert it to a 10 room Bed & Breakfast. The borrower currently owns and operates the adjacent Spring Mount Ski Area so this was an expansion to their already successful business.

The Woodside Lodge has a long history as an Inn and subsequently a restaurant (formerly known as the Woodside Inn). It was built in the early 1920's and is the last standing Inn among several that catered to travelers who came to Schwenksville via train to escape the summer heat in Philadelphia.

The Buckman's primary goal was to complement their existing ski and summer mountain businesses by providing overnight lodging and breakfast for guests. Spring Mount Ski Area is a popular ski area in Montgomery County which also features one of the biggest Canopy Tours in the Northeastern United States (i.e. series of zip lines, rope bridges and challenges through the trees).

The loan closed upon issuance of a Certificate of Occupancy and was used to take out an interim construction loan.