Financing ·
Parks! America, Inc., through its wholly owned subsidiary Wild Animal Safari, Inc., entered into a $1.30 million term…
PRKAParks America, Inc
Parks! America, Inc., through its wholly owned subsidiary Wild Animal Safari, Inc., entered into a $1.30 million term loan credit agreement with Cendera Bank on August 26, 2026. The proceeds were used to repay existing indebtedness under a prior agreement with Synovus Bank. The seven-year loan matures on September 1, 2033, with a balloon payment of the outstanding principal due at that time. Although initially based on CME 1-month term SOFR plus 2.70%, a subsequent Rate Conversion Agreement fixed the interest rate at 7.35%. The initial estimated monthly payment is $9,570, and approximately $39,000 in fees were paid. The loan is secured by substantially all of Wild Animal Safari’s assets and guaranteed by Parks! America, Inc., subject to a minimum Debt Service Coverage Ratio covenant of 1.20 to 1.00. Parks! America operates amusement parks and wildlife attractions.