EGMONT - The West Coast Wilderness Lodge, located in the picturesque community of Egmont on the Sunshine Coast, is a testament to the power of strategic support and community-focused economic development. Owned by Paul and Patti Hansen, the lodge has grown to become a beacon of tourism, sustainability, and local economic impact.
From its inception, the lodge faced significant challenges in securing conventional financing. Banks deemed them “not bankable”, leaving the Hansens to seek alternative support. This is where Community Futures Development Corporation of the Sunshine Coast (CFDC-SC) stepped in. Recognizing the potential and the well-organized vision of the Hansens, CFDC-SC provided the initial $150,000 loan in March 2010 to make critical improvements to the premises.
Over the years, CFDC-SC continued to support the lodge with additional loans and refinancing, understanding the seasonal nature of their business and offering tailored repayment plans that included interest-only payments during the off-season and lump sum payments during the peak season. This flexible approach helped the lodge to stabilize and grow, creating over 30 jobs annually and significantly boosting the local economy through increased tourism dollars.
Paul and Patti’s vision for the lodge included expanding their marine activities and improving the facilities to meet the growing demand for accommodation. CFDC-SC’s strategic financial support played an integral role in these expansions. For example, when the lodge needed to refinance a boat to offer zodiac excursions, CFDC-SC provided a $64,500 loan, allowing them to continue attracting international travellers, whose numbers had increased by 300%.
Despite the challenges brought on by the COVID-19 pandemic, the lodge managed to maintain operations and support the local economy. The Hansens adapted their business model to attract local clients, and with the help of CFDC-SC and other financial institutions, they weathered the storm, achieving significant occupancy rates and planning for a strong recovery in 2021.
At times, CFDC-SC took third position on security to leverage funds and make things work for the clients. This strategic risk-taking underscores CFDC-SC’s commitment to cultivating business on the Sunshine Coast and graduating them to conventional lenders when they become bankable.
“The relationship between CFDC-SC and the West Coast Wilderness Lodge exemplifies our mission to support businesses that drive local economic growth and sustainability. By providing flexible and strategic financial solutions, we help businesses like the lodge create jobs, attract tourism, and contribute to the vibrancy of our community,” says Morgan Beall, Executive Director of CFDC-SC.
The West Coast Wilderness Lodge stands as a shining example of the impact that thoughtful, community-focused support can have on a business. It is not only a success story for CFDC-SC but also for the entire Sunshine Coast, demonstrating the power of local dollars, impact investing, and sustainable tourism. As the lodge continues to thrive, it remains a cornerstone of the local economy, bringing visitors from around the world to experience the natural beauty and warm hospitality of the Sunshine Coast.
Support this Business
Website: WCWL.com
