The Bahamas is appealing for developers for a number of reasons. First and foremost, is the amount of oceanfront property among the hundreds of islands that make up this Caribbean nation. There seems to be no end of white sand beaches in The Bahamas to build the perfect tropical resort; some of it at very appealing prices.
The Difficult Part of Financing a Resort in The Bahamas
Finding the perfect property is actually the easy part of developing a small resort in The Bahamas. The difficult part comes later, find the money to build your project. Finding money for a property on Paradise Island is easy, on a small uninhabited outer island, not so much. You will need to show a lender the viability of the project, and a plan for marketing it once you are complete. Coming to the table with a good idea will not be enough.
Although outer islands can seem secluded and idyllic, exactly what many vacation goers are looking for, they do not necessarily appeal to the masses. For lenders, it all comes down to the numbers, and does the project have a good likelihood of success.
For many developers who have experience in some aspects of building a resort, you many need to work with someone who can assist you in putting the whole plan to paper, and be able to sell it to an institutional lender to make your dream a reality.
How We Assist You in Getting Your Project off the Ground
For projects like this in The Bahamas, we work closely with an investment bank, who will create ‘a book’ on your deal. For institutional lenders who are considering your project, they will want to know every detail of costs to construction team to marketing plans. On top of all of this, it certainly does not hurt to tie this in with a strong relationship with the lenders as well.
It can take some time to put this book together and of course no one works for free, so expect there to be upfront costs for putting this together. But at the end of the day, you want to ensure the highest likelihood of successfully getting the capital you need.
There are no fees for consultations with Carib Capital or our investment banker, so talk to us today about your project and how we can assist you in getting it off the ground.
