SBA 7(a) RV Park Feasibility Study in North Carolina

A sixth-place state for RV park lending, with a Live Oak lead in dollars

North Carolina is rank 6 among states by count for RV parks and campgrounds under 7(a), while the class is 22 of 39 at home. The 26 loans total $36.1 million, with a midpoint of $995,000, 1.21x the national 7(a) midpoint for the class, and a middle half between $408,750 and $1.9 million. Franchised loans are 3.8%.

Holders and mountain counties

First Community Bank is first by count, with 6 loans and $3.5 million. Live Oak Banking Company, with 5 loans and $13.3 million, carries an average ticket nearly four times larger. SBA lists the present holders. Counting by county, Randolph leads with 5 and Surry has 4, then Buncombe with 3, Carteret and Swain with 2 and Burke with 1, tracing the Piedmont, the mountains and the coast. FY2024 brought 8 loans and $10.4 million, and FY2026 had 5 with $7.9 million, while FY2018 and FY2022 show none.

A broad code and empty rates

A rustic campground and a high-amenity park share the one code SBA uses for this trade, so the figures blend them. North Carolina's two outcome percentages are not printed, since each cohort is under SBA's minimum; no lender should take the gap for a sign of low failure. Newer approvals have had little time to season.

What a North Carolina park study has to test

Mountain, Piedmont and coast parks differ so much that the study must say where it is. The study should say how the calendar differs between the mountains, the Piedmont and the coast, and what each means for months of operation. Show occupancy by month for comparable parks, the nightly, weekly and monthly rate mix, and the share of guests who return. Cost the site work: roads, water, septic, electrical service, grading and the stormwater plan. Terrain and flood zones can raise cost and limit the number of usable sites. Amenities, such as pools and cabins, need their own payback. Test coverage in a wet season or after a storm closure and with a slow build of repeat guests. A million-dollar midpoint suggests the land and improvements carry most of the collateral, so the appraisal should state what they would bring to another operator or a different use.