Bed & Breakfast Inn Financing, Mortgages, and Loans
Did you know that you could use your IRA or 401 (k) to fund the down payment on a business or investment property? Few investors/entrepreneurs realize that they can finance the purchase of a business, such as a B&B, with retirement funds. Borrowing money usually involves repaying the principal with interest, and early withdrawals may be subject to a pre-distribution tax and penalty. There is another way . . [Read More]
“Bob and I have been innkeepers at the White Doe Inn for 12 years. We’ve decided that is was time for our own Inn to undergo some improvements and improve large accommodations on the property for the Innkeepers. Our situation required that we apply for a commercial loan rather than a residential mortgage and Rick [...]
“Just Closed and Funded – The Mast Farm Inn, Banner Elk, NC.” Henri and Marie-Henriette Deschamps
“We had been trying, unsuccessfully for over a year to refinance our B&B with local banks, national banks, online commercial lenders and brokers, without any luck. We finally got in touch with Rick, and got the process started, which was pretty painless. If I remember correctly, we had pre-approval in less than two weeks. He [...]