MICHIGAN · NAICS 721211
Michigan RV park and campground projects cluster across the northern lower peninsula and the Great Lakes shoreline, with compressed seasonal demand and a strong winterized storage tail. Studies translate site mix, amenities, rate by season, and absorption into projections, and reconcile zoning, septic, and environmental conditions against the build plan.
FEASIBILITY TRIGGER
RV parks and campgrounds are special-purpose under SOP 50 10 8, so a third-party feasibility study is normally required and elevated equity applies.
Between FY2010 and FY2026, SBA lenders approved and disbursed 46 7(a) and 504 loans for RV park projects in Michigan, totaling $34.3 million in approved financing at an average of $745,000 per loan. Michigan ranks #6 of 38 states tracked for RV park SBA lending volume and accounts for 3.1% of national RV park SBA dollar volume. 84.8% of these loans were made under the 7(a) program, the remainder under 504. 9 loans have been approved since FY2024.
| Disbursed loans (FY2010–FY2026) | 46 |
| Approved volume | $34.3 million |
| Average loan size | $745,000 |
| 7(a) share | 84.8% |
| Approvals since FY2024 | 9 |
| State rank by loan count | #6 of 38 |
Among the 32 seasoned loans in this segment (approvals FY2010–FY2021), 3.1% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for RV park is 3.2%, against 7.3% across all industries. That is broadly in line with the national benchmark for this asset class.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 3.1%, close to the national RV park benchmark of 3.2%, puts Michigan deals in this class on ordinary SBA credit footing. Across 46 loans averaging $745,000, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Michigan rv parks and campgrounds project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Michigan projects most often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and the state's Collateral Support Program can layer up to 40 percent collateral coverage onto qualifying deals. SBA 7(a) covers acquisitions, working capital, and equipment, and from July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
The northern lower peninsula and lakeshore corridors carry one of the Midwest's deepest seasonal camping economies.
For a national view of this asset class, see our RV park SBA feasibility overview, and read our related analysis in the RV park lending research on our blog. Lenders and CDCs can order an SBA RV park feasibility study tested against the transient-revenue rule.
Compare neighboring markets: Massachusetts, Minnesota, Texas.
Public SBA and CDC program records, cited as program evidence
$8.5M total project cost through TMC Financing and PB Capital with 15 percent down
206-unit park on 40 acres, national program evidence
Bakersfield, Kern County, California
Fifteen-minute scoping call, written proposal inside one business day, firm fixed fee before you sign.
Book a MeetingOur SBA feasibility study consultants prepare RV park, campground and outdoor hospitality studies for lenders, CDCs and sponsors. See pricing, methodology or request a fixed fee quote.
California, Texas, Florida, New York, Illinois, Georgia, New Jersey, Ohio, Pennsylvania, Michigan, Arizona, Colorado, Washington, Virginia, Minnesota, Maryland, Wisconsin, Missouri, Indiana, South Carolina, Oregon, Connecticut, Nevada, North Carolina, Tennessee, Massachusetts, Nebraska, New Mexico, West Virginia, Idaho, Montana, Maine, New Hampshire, Rhode Island, Delaware, Iowa, Kansas, Wyoming.