Ludlow Rest Stop – Ludlow, CA
Clearinghouse CDFI (CCDFI) provided $6,008,000 to Ludlow Land Company for refinancing of a previous construction loan to support project improvements to a rural rest stop in Ludlow, California.
Located midway between Needles and Barstow, California, a rural rest stop along I-40 offers services including a Chevron Gas Station, a 76 Gas Station, a Dairy Queen, the Ludlow Motel, the Ludlow Cafe, and a mobile home park. The Ludlow Land Company collaborates with San Bernardino County on a water remediation project to enhance local drinking water quality, and the loans from CCDFI bolster their property improvements, finalize the water project, and restore cash expended on both endeavors.
Ludlow, once a booming rail and mining hub, transformed into a travelers’ haven on Route 66 but eventually became a ghost town after I-40’s construction. For nearly 50 years, the Knoll family has owned and managed properties in Ludlow, California, including the rest stop, motel, cafe, and mobile home park—landmarks situated on the historic Route 66.
Read the full story here: Just Funded – Ludlow Land Company
Provides refinancing to a project that supports a rest stop and facilities along major freeway in historic rural area
Refinancing of previous high interest construction loan and reimburse borrower for portion of operating funds used for construction and water remediation project
