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Inn Financing

“Picture this, Karen and I are at a national innkeeping seminar and trade show within days of closing on the Inn of our dreams when we get the word the bank has dropped our financing. The worst part was having to tell my wife the news. Enter Rick Newman and Commercial Capital Network. Within 24 hours he had connected us with an amazing group of people that literally picked up the ball and scored. We closed within 45 days start to finish. Personal and attentive to every detail, this was an amazing experience and we would not have been able to complete this journey without Rick and his team. Thank you from the bottom of our hearts!! “

David & Karen Browning

Eden Vale Inn

Placerville California

Tall Pines Inn

Inn Financing

“We started in October and missed 5 closing dates struggling to finance the purchase of Tall Pines Inn. We were told by every lender that we were well qualified, so we didn’t understand why we were having trouble securing a mortgage. We tried for months to work with banks local to the property.  It cost us money, time, and it was very confusing and frustrating, and we were really stuck because we wanted to close in time to make changes before the busy season started. We felt had such an amazing opportunity and we did not want to let it pass by.

We were truly exasperated and had all but given up when Peter Scherman suggested we call Rick Newman to help us, and in was the best decision we could have made. Rick really cared, and he coaxed and coached us along the way as we wrote our business plan; he also gave us a big shove when we needed it. We really enjoyed working with Rick, and still find it fun when he calls out of the blue to say “hi!” He is just a “down to earth” kind of person to work with. Yes, Rick can get the job done, he is worth every penny, but the best part, you are working with a friend and not just another vendor. We are thankful we brought him in to work with us.”

Michelle & Keith Frey

Tall Pines Inn

Eureka Springs, Arkansas

Carolina Bed & Breakfast – Asheville

B & B Financing

“My husband Kevin and I will tell you that we could not have bought the Carolina Bed & Breakfast in Asheville, NC without the invaluable knowledge, guidance and dogged persistence that Rick provided to us. Anyone who tells you that financing an Inn is an easy thing absolutely does not know what they are talking about. Rick worked incredibly hard to help us secure the funding we needed and he had all the right connections that made it possible. It was a long and difficult battle to get this deal done and there were several times we thought we would not be able to make it happen. Rick got us through the deal and successfully to the close. You can trust that he knows what he’s doing and he will be an excellent advocate for you with the banks. We are so very grateful for all his efforts on our behalf and incredibly happy in our Inn.”

Diana & Kevin Thornton

Carolina Bed & Breakfast

Asheville NC

Devonfield Bed & Breakfast

Bed & Breakfast Financing

“After an exhaustive search of inns in multiple states, we finally decided that the first inn we loved was, in fact, the inn of our dreams.  We needed to get moving to be able to close in time for the busy season, so we were pressed to find a lender that understood B&B financing and was actively lending in our local market.  To make matters even more challenging, we also needed to simultaneously finance our new home located on a separate lot next door to the inn.”

“Having been a commercial loan officer for 20 years, I knew how challenging the hospitality sector can be. We could not afford to waste precious time & money submitting over and over again to lender after lender, and we did not want to risk losing our dream property or miss out on the peak summer business in the Berkshires.”

“After careful consideration, I swallowed my professional pride and decided to hire Rick Newman knowing full well I could save money if I tried to represent myself in front of lenders.  As it turned out, it was the best decision I ever could have made; Rick pre-qualified us instilling instant credibility with the sellers and realtors.  He provided extensive assistance creating our business plan.  Once we were in underwriting he knew when to be hands-on and when to let the underwriters and closers do their thing; most importantly, he got it right the first time!  Rick made sure we were comfortable along the way and that the process was orderly and professional.  We closed on time and Rick got us all the way through to the finish line without incident.”

“I don’t often write testimonials, but I will say if you truly want to finance the inn of your dreams on a timeline that fits your needs, then call Rick.  We listened to Rick’s advice, he’s great at what he does and if anyone can deliver…  Rick can!”

Doug Bagnasco

Devonfield Bed & Breakfast

Lee, Massachusetts


Prequalify to Buy a Bed & Breakfast or Inn

Loan Prequalification

The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they really have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. …

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Financing Frequently Asked Questions

FAQ

How can I know if I qualify for a loan to purchase an inn? A pre-qualification involves the review of a loan application and supporting documentation and is comprised of data and documentation for the buyer/s and quite often a property that is of particular interest. The buyer/s must have adequate …

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Use Retirement Assets for Inn Purchase

Using Retirement Assets to Purchase a B&B/Inn?

Few investors/entrepreneurs realize that they have the ability to self-direct their own retirement assets. Most believe the only two options are to borrow or withdraw from their account/s if they wish to invest in real estate or purchase/start up a new business. The downsides are… Borrowing from …

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What Clients Say . . .

The Aerie Inn ~ New Bern, NC

"We initially found Rick’s website back in 2010 when we first entertained the thought of buying a bed and breakfast. I saved his site as a favorite and went about business as usual since the timing wasn't right for us to buy. Keith and I would periodically peruse bed and breakfast for sale sites and …

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Pheasant Field Bed and Breakfast

“Rick’s knowledge of the B&B and financing industry and his ability to clearly and accurately provide advice and present options were the instrumental factors that allowed us to purchase Pheasant Field Bed and Breakfast …

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Fox Hill Bed & Breakfast Suites

“From our initial telephone conversation and throughout the entire process, your professionalism was outstanding. Your guidance, expertise, and responsiveness are all immeasurable. The encouragement and insights provided helped us to maintain focus as we worked through the details of making our …

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More Client Reviews