The Confluence Resort
From the time I contacted them and identified the project and they came down and expressed interest, we moved to a commitment very quickly.
In Pervis Major’s native West Virginia, tourists were long offered rustic cabins and adrenaline-driven activities like whitewater rafting and rock climbing. Twenty years in the accounting software business in Washington, D.C., got him thinking that the area could benefit from a different product – and he could provide it. “I decided to come up here to West Virginia and look for a nice piece of property, so I could do what I always wanted to do, which is to put together a resort that caters to families,” he says. He bought 305 acres where the Meadow and Gauley rivers meet.
A bank loaned the money to build two chalets, but for permanent financing, Pervis found a much better interest rate with The Progress Fund. That rate on a $498,000 loan frees up cash to finance further expansions.
The Confluence Resort started with one rental house, now has three, and plans to expand to five. “We can be more aggressive about going after wedding parties and family reunions,” says Pervis The family-friendly product brings a different kind of visitor to the area – the kind that spends money at gift shops, theaters, restaurants and outfitters. “They’re families, not adventure seekers. They stay for seven days, not two.”View Story as PDF
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