Bailey Mountain Bike Park
As a family with a passion for mountain biking, when Guy and Jennifer Miller’s son introduced them to downhill (or “gravity”) mountain biking, it was an easy sport for them to get behind. After taking their son to downhill races around the country and getting to know the sport better, they realized that there was a real void for this sport in the Southeast. There was a demand, but nowhere for people to go.
Location: Marshall, NC
Years in Business: >1 year years
PCAP Role: Acquisition loan
Sector: Eco-tourism
Partners: Rural Center Loan Participation Program, Carolina Small Business Development Fund, Mountain BizWorks
Opportunity
They decided to open their own downhill mountain biking park outside of Asheville, North Carolina. The biggest challenge was finding the capital to turn their dream of opening their own bike park into a reality. With a background in destination travel and the hospitality industry, the Millers were up for the job. But traditional financing was not an option, and that is where Partner Community Capital (PCAP) came in.
The Deal
Through our partnerships with The Rural Center’s Loan Participation Program, Carolina Small Business Development Fund and Mountain BizWorks, we were able to offer creative financing that allowed the Miller’s to purchase the 140 forested acres–previously slated for development–that would become Bailey Mountain Bike Park.
The Impact
Visitors to the bike park provide needed tax revenue for Madison County and support five jobs at Bailey Mountain. And the business keeps the forest and natural beauty of the land from being developed.
