linksfiend Posted June 21, 2006 Share Posted June 21, 2006 ... it looked awfully grown over the last time I drove down the 90. Does anyone know what is going on there? Link to comment Share on other sites More sharing options...
ACor58 Posted June 21, 2006 Share Posted June 21, 2006 The original owner / founder ran out of money then died. I believe that there are several other individuals trying to pick up where he left off, but unless they can provide 100% of the financing they are SOL. I don't know a bank, including mine, that would touch that thing with a 10 foot pole. Link to comment Share on other sites More sharing options...
MattyT Posted June 21, 2006 Share Posted June 21, 2006 The original owner / founder ran out of money then died. I believe that there are several other individuals trying to pick up where he left off, but unless they can provide 100% of the financing they are SOL. 711907[/snapback] I've heard the same. Link to comment Share on other sites More sharing options...
linksfiend Posted June 21, 2006 Author Share Posted June 21, 2006 The original owner / founder ran out of money then died. I believe that there are several other individuals trying to pick up where he left off, but unless they can provide 100% of the financing they are SOL. I don't know a bank, including mine, that would touch that thing with a 10 foot pole. 711907[/snapback] Why would a bank shy away? It seems like a decent location for a course. Link to comment Share on other sites More sharing options...
ACor58 Posted June 21, 2006 Share Posted June 21, 2006 Why would a bank shy away? It seems like a decent location for a course. 711919[/snapback] A million different reasons, but the two majors being collateral and ability to service debt. Other than some golf carts and groundskeeping equipment, there is very little to secure the debt with. Couple that with the large amount that needs to be borrowed and the seasonality of the business and you find yourself with a borrower that is going to have a hard time paying you back on time, if at all. Link to comment Share on other sites More sharing options...
kegtapr Posted June 21, 2006 Share Posted June 21, 2006 A million different reasons, but the two majors being collateral and ability to service debt. Other than some golf carts and groundskeeping equipment, there is very little to secure the debt with. Couple that with the large amount that needs to be borrowed and the seasonality of the business and you find yourself with a borrower that is going to have a hard time paying you back on time, if at all. 711932[/snapback] Add on that the golf market around Rochester is already saturated. Looked like it was going to be a nice course and probably would haveeventually turned a profit, but not enough to make investors jump. Link to comment Share on other sites More sharing options...
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