SBA 504 RV Park Loan Data
Explore SBA 504 loan volume, funding totals, average deal size, regional trends, and lender activity for RV park businesses in the USA.
This report helps RV park owners understand how SBA 504 financing is being used across the industry.
RV Parks & Campgrounds
Market Analysis
A comprehensive look at SBA 504 lending activity for RV (Recreational Vehicle) Parks and Campgrounds (NAICS 721211), covering loan volume, geography, lender participation, and borrower profile from FY2023 through FY2026 (as of 12/31/2025).
Number of Loans by Fiscal Year
Dollar Volume by Fiscal Year
Key Takeaway
RV park lending is a small but remarkably consistent segment. Loan counts have held steady at 26-29 per year, with dollar volume moving between $25M and $34M annually. Unlike hotels or restaurants, this industry is not seeing explosive growth — it's a niche market driven by tourism demand, rural land availability, and an aging Baby Boomer traveler base.
SBA 504 Approval Amount Brackets
Loan Term & Business Profile
Loan Term Length
Business Maturity
Key Takeaway
RV parks are distinctive for their startup-heavy borrower profile — 54% of all loans are brand-new businesses being funded to open. Only 32% are established operators, a lower share than any industry we've analyzed except hotels. Average loan size is $1.08M with a median of just $730K, reflecting the mix of small rural campgrounds and larger resort-style RV parks. Two loans exceeded $5M, signaling occasional high-end resort developments.
Top 15 States by Loan Count
Top 15 States by Dollar Volume
Top Counties
| County | State | Loans |
|---|---|---|
| Waupaca | WI | 4 |
| Crow Wing | MN | 3 |
| Otter Tail | MN | 2 |
| Hancock | ME | 2 |
| Coos | NH | 2 |
| Volusia | FL | 2 |
Key Takeaway
RV park lending reflects where people actually camp — not where they live. Minnesota, Texas, and Wisconsin top the leaderboard, a dramatic departure from every other industry where California dominates. California has zero top-15 presence here. The top counties are vacation destinations: Waupaca (Wisconsin lake country), Crow Wing (Minnesota's Brainerd lakes), Hancock (Acadia National Park area), and Coos (White Mountains). Texas leads in dollar volume despite the lower count — it has a mix of larger luxury RV resorts.
| CDC Name | Loans | Total Volume | Avg Loan |
|---|---|---|---|
| WBD, Inc. | 11 | $10,453,000 | $950,273 |
| Minnesota Business Finance Corp | 10 | $6,832,000 | $683,200 |
| Mountain West Small Business Finance | 6 | $4,872,000 | $812,000 |
| Florida First Capital Finance | 5 | $3,668,000 | $733,600 |
| Granite State Economic Development | 4 | $4,048,000 | $1,012,000 |
| Florida Business Development Corp | 4 | $5,841,000 | $1,460,250 |
| Intermountain Business Lending | 3 | $4,298,000 | $1,432,667 |
| North Texas Certified Development | 3 | $3,697,000 | $1,232,333 |
| B:Side Capital | 2 | $1,464,000 | $732,000 |
| Empire State Certified Development | 2 | $1,232,000 | $616,000 |
Key Takeaway
This is a regional-CDC market, not a national one. WBD (Wisconsin-based) and Minnesota Business Finance Corp lead the pack — reflecting the Upper Midwest concentration. Notably absent: Mortgage Capital Development Corp (dominant in every other industry we've analyzed). For RV parks, specialized knowledge of rural land development, seasonal cash flow, and destination tourism matters more than scale. Florida Business Development Corp averages $1.46M per loan, the highest on the list, suggesting larger RV resort projects.
| Lender | Loans | 504 Volume |
|---|---|---|
| First Mid Bank & Trust, N.A. | 6 | $6,512,000 |
| Texas First Bank | 3 | $3,576,000 |
| Lake Ridge Bank | 3 | $1,108,000 |
| Community Bank of Mississippi | 2 | $846,000 |
| First Bank of the Lake | 2 | $1,846,000 |
| Northwoods Bank of Minnesota | 2 | $1,556,000 |
| Stearns Bank, N.A. | 2 | $6,103,000 |
| Community Banks of Colorado | 2 | $1,298,000 |
| State Savings Bank | 2 | $814,000 |
Key Takeaway
The RV park lending market is almost entirely community and regional banks — none of the major national banks (JPMorgan, Bank of America, Wells Fargo) appear in the top 10. First Mid Bank leads with 6 loans. Stearns Bank and First Bank of the Lake are SBA specialty lenders with strong rural lending profiles. Names like Northwoods Bank of Minnesota and Texas First Bank reflect the deeply local nature of this business — these deals get done by bankers who understand seasonal revenue, septic systems, and rural property values.
85 loans and $91.6M in SBA volume make RV parks a small-but-stable niche. Volume has held steady at ~$25-34M per year with no dramatic growth or decline — a reliable, predictable segment for the right lender.
54% of borrowers are startups opening brand-new RV parks — the highest startup share of any industry we've analyzed. This is a market for lenders comfortable with new-build projections, raw land development, and first-time operators.
Upper Midwest (MN, WI, MI) and mountain states (UT, CO, ID) dominate. Local CDCs and community banks lead — this is a market where rural expertise outweighs national brand. Unique opportunity for regional lenders.