Ten Deals In: Viso Business Capital Is the Financing Partner of Choice for Casago Franchise Buyers

A new kind of acquisition deal type was created when Casago acquired Vacasa. Viso built the playbook to finance it.

ANAHEIM, Calif.--(BUSINESS WIRE)--Viso Business Capital has closed its tenth acquisition loan for a Casago franchise owner. Across those ten deals, Viso arranged roughly $25 million in SBA financing that helped buyers step into established short-term rental management territories and own them outright.

Each of these deals traces back to one of the biggest moves the vacation rental industry has seen in years.

Casago was founded in 2001 by former Army Ranger Steve Schwab and built its name on a local-operator, owner-first model that eventually grew through franchising. In the spring of 2025, Casago completed its acquisition of Vacasa, a deal valued at roughly $130 million, bringing the combined company to more than 40,000 managed properties across North America, Mexico, Belize, Costa Rica and the Caribbean.

Casago sought to operate each market as a locally owned and operated franchise and opened territories to buyers. Vacasa had the infrastructure and local teams in place, so for the right operator, it was a chance to step into a functional business on day one.

Why Casago buyers needed Viso

These were strong deals. They just did not fit the typical SBA structure.

Each former Vacasa market had lived inside a large, publicly traded company. That means there were no standalone tax returns for an individual territory. Instead, these deals were able to qualify for SBA funding using CPA-prepared financial statements.

It is like buying a thriving location from a national brand that only ever reported tax numbers for the whole country.

Add some seasonality that is embedded into the vacation rental industry in most markets, and these deals sat well outside the standard SBA template. Not weaker deals. More challenging ones to present and find the right bank lenders for.

The buyers were a big part of the answer. Many brought hospitality and real industry experience to the table, and every one of them had the full support of the Casago franchise system behind them: training, technology, brand, and a national operating platform. That support made these deals stronger. What each deal needed was a partner who could tell that complete story to a bank accurately and efficiently. That is exactly the job Viso was built for.

How Viso built the playbook

Before any file reached a bank, Viso coordinated the CPA-prepared financial story for each carve-out market and cleared the Five Points of Bankability: operator fit, cash flow durability, customer and revenue quality, deal and capital structure, and transferability.

Viso ran each opportunity through its Pre-Flight Check, then matched it to the right lender at the right time. Viso worked with several of the country's top SBA banks to fund these deals, and helped position Casago as an SBA-approved franchise system so future buyers would have a clearer path to financing. The result is a repeatable model for financing franchise carve-outs in a category most lenders had never seen at this level.

"We were fortunate to have found a partner like Viso during our market sales process. At the onset, we had an exciting, but challenging task in transitioning centrally managed Vacasa markets to franchise buyers of all sizes. Viso's capabilities proved to be the perfect fit for what we needed and helped many of our franchise partners achieve their goal of owning a local business," said Joe Riley, President, Casago.

"These deals sat outside the standard SBA playbook, and that is exactly why we love them. When a business has no standalone tax returns, the work is in building the story a bank can trust. Great buyers, a strong franchise system behind them, and a lender who understands the full picture. That is the Viso Method. We are proud that Casago's franchise buyers chose us as their partner, and we are just getting started," said Heather Endresen, founder, Viso Business Capital.

Along the way, Viso developed something lasting: real expertise in evaluating and presenting short-term rental management companies to lenders. What started as a challenging problem is now a defined focus for the firm. Viso looks forward to funding more Casago franchise acquisitions and expansions, and to working with short-term rental management companies well beyond the Casago system. If a business is worth owning, it is worth financing the right way.

About Casago

Casago (https://casago.com) is a premier vacation rental management company providing professional property management services for homeowners across North America, Belize, Costa Rica and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services through a franchise-driven model. In 2025, Casago expanded its footprint by acquiring Vacasa, a leading vacation rental platform in North America. With a customer-centric approach, the combined company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago's commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both.

About Viso Business Capital

Viso Business Capital (https://visocap.net) is a specialist SBA business acquisition financing firm that helps buyers finance the purchase of established small businesses. Founded by Heather Endresen, who brings more than 30 years of SBA lending experience, Viso has arranged financing on more than 150 acquisitions representing over $437 million in closed loans. Viso works through The Viso Method, a repeatable framework built on the Five Points of Bankability and a signature Pre-Flight Review, positioning each deal for the right lender at the right time where it can get the best available terms and service. Heather Endresen is a co-host of the Acquisitions Anonymous podcast and a frequent voice across the small business acquisition and search community.