Ace Adventure Resort
It was difficult to find financing at the low interest rate that The Progress Fund was able to offer us.
ACE Adventure Resort didn’t need a bailout. The business that started as two guys with four rafts had, over 30 years, grown into a leading presence on the New River Gorge National River. On 1,500 acres, Jerry Cook and Ernie Kincaid offer rock climbing, mountain biking, ATV trips, horseback riding, canopy tours, kayak clinics, dining and lodging. Success created a problem. “Every season we are forced to turn away guests interested in staying in our property due to limited lodging,” says Miri Niedelman, ACE’s accountant.
The solution was more and bigger luxury cabins, and ACE could have had its pick of lenders. Ernie heard about The Progress Fund’s work strengthening West Virginia’s tourism industry. “It was difficult to find financing at the low interest rate that The Progress Fund was able to offer us,” says Miri, so ACE borrowed $180,000.
Miri says The Progress Fund’s staff was “very knowledgeable and helpful.” The loan, plus ACE’s investment and sweat equity, helped equip three luxury cabins and pay for 22 new rafts and six ATVs. The expansion created four new full-time jobs. It goes to show that even a business with a strong current can ride a little higher with the right crew.View Story as PDF