Bushkill Inn & Conference Center

SBA 504 RE-FI, FMLP

LOAN AMOUNT: $5,868,000

LOAN TYPE: SBA 504 Loan

INDUSTRY: Hospitality

LOAN DETAILS

Location

Bushkill, Pennsylvania

1st Mortgage

$ 3,668,000

Term

25 years

2nd Mortgage

$ 2,200,000

Term

20 years

Jobs

100

History

The existing lender could not finance the construction on this resort. Without the FMLP Program, the current lender’s exposure, due to FDIC regulations, would have prevented them from doing this loan.

The Bushkill Inn & Conference Center is located in the beautiful Pocono Mountain Region of Pennsylvania directly across from the famous Bushkill Falls. For 75 years, prior to 2010, the Bushkill Inn functioned as the Pocmont Resort. In 2010 it was sold to the new owners of Bushkill Inn & Conference Center, Isaac Greenwald, Nick Leiman and Yehuda Margules, who renovated the existing facility.

The Bushkill Inn & Conference Center operates as a high-end resort and conference center year-round and offers the complete resort experience along with a banquet facility and meeting and retreat facilities to the general market. The Bushkill Inn’s newest addition will be, through its affiliation with Greenwald Caterers, capabilities to serve the nearby Jewish market by providing kosher cuisine and services.