Rick Newman is pleased to introduce David and Karen Browning, the Proud New Owners of Eden Vale located in Placerville, CA
In the Words of David and Karen Browning, Innkeepers, Eden Vale Inn, Placerville CA
“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 form the bottom of our hearts!”
Meet the Innkeepers:
After a short career in music, David went back to school for his Doctor of Chiropractic (DC) degree and spent the next seven years in his family practice in Pleasanton, CA. In 1997 David joined the faculty of Life West Chiropractic College as an Associate Professor while he and his wife Karen together led a Youth and Adult Recovery Ministries. David moved on to Parker University in Texas where he became a full professor and department chair. David was later recruited back to Life West where he led and developed the first peer review committee for faculty advancement, and initiated major curricular revisions to align course sequence with skill set development and assessment.
Karen has enjoyed a long career as an LVN working in multiple facilities in a variety of positions ranging from day to day nursing, to the coordination and management of multiple practice schedules and leadership roles within the healthcare community. She has worked in several challenging administrative positions that honed her ability to lead and serve a diverse community of people. Karen’s work with David in the Youth and Adult Recovery Ministry further sharpened her organizational skills and developed her keen attention to detail and her ability to manage challenging circumstances.
MEET RICK NEWMAN, Owner InnFinancing.com/CCN
Rick Newman is privileged to have assisted hundreds of aspiring innkeepers make their dream profession a reality by providing the financial guidance, industry insight, and intellectual resources that guide their bed & breakfast purchase from beginning to end. Contact Rick Newman today and find out more about how putting his expertise to work for you can allow you to move from aspiring innkeeper to innkeeper for yourself!
570-213-1903, firstname.lastname@example.org, www.innfinancing.com
Commercial Capital Network, LLC/InnFinancing.com (CCN), owned by Richard K. Newman, recently provided loan acquisition and property transition services for The Oval Door, a Eugene, OR, based inn owned by Nathaniel and Brian Foster. CCN’s depth of resources specifically in the areas of financing bed & breakfast and inn acquisitions for aspiring innkeepers proved a key asset in the smooth transition in ownership of The Oval Door to the Fosters.
“The inn acquisition process was one of the most overwhelming experiences Brian and I have gone through. As prepared as we thought we were for the process, in hindsight, we had no idea what we were getting ourselves into. The deal was much more commercial than we anticipated as far as transactions are concerned. We initially applied for financing through three other banking institutions: a major national bank, a medium-sized national bank and a local credit union. All three denied us a loan even though we had excellent credit, decent capital on hand, and substantial equity in our home. It seemed as though when we brought up financing a Bed & Breakfast in particular, the banks were very leery,” expresses Nathaniel Foster.
Foster continues, “After we got the third denial call, Brian started doing some searching on the web which is when we found Rick’s website. After reading through Rick’s site, we called him. From the get-go, Rick was the fastest to respond to all of our inquiries and questions. He immediately began crunching numbers, asking questions and genuinely seemed interested and invested in what we were saying. For weeks we just felt like people weren’t listening to us. With Rick, that all changed. We felt he really wanted to help. He walked us through the process and made it easy to understand. As we say all the time, if it wasn’t for Rick, we would not have our Inn. And on a bigger level, we wouldn’t have our dream. Rick literally helped our dream come true. We are forever grateful.”
“Loan acquisitions are a process which need to be delicately managed within the bed & breakfast and inn financing field,” Rick Newman explains. “Many of these properties are historic or legacy businesses which makes obtaining the necessary documents for loans inherently difficult. At CCN, our extensive industry resources, banking contacts, and thorough knowledge of bed & breakfast and inn operations insures property acquisition runs smoothly and that both buyer and seller emerge from the transaction happy and as friends.”
As a result, inn and bed & breakfast acquisitions managed by CCN can be confident they will begin operations on a solid financial footing with the ground work firmly in place for future success. This is certainly the case with The Oval Door which has bustled with activity since opening its doors. The summer season proved particularly brisk as visitors to The Oval Door enjoyed the many amenities and upgrades offered at the Inn including the newly painted exterior, beautiful interior design, en-suite bathrooms, and walking distance location to the famed shopping, restaurant, and entertainment culture of Eugene, OR. Additionally, the Fosters take great pride in offering a superior level of customer service and attention to detail which afford each of their guests with a luxurious and relaxing retreat at The Oval Door.
CCN offers national resources and expertise to a wide range of clients interested in owning a bed & breakfast or country inn. CCN’s services assist both innkeepers and aspiring innkeepers alike with evaluating and verifying inn financials, aligning their assets for inn acquisition, and creating resourceful strategies for long-term business success.
Visit Innfinancing.com or Call Rick Newman Today!