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“We never would be here as innkeepers of the Sheridan House Inn at the gateway to the Grand Canyon, with guests from all over the world delighting in our special brand of Arizona hospitality, without Rick Newman of InnFinancing. It’s a fact that most B&B owners don’t come from hospitality backgrounds, so walking into a bank and asking for them to loan money to people with no experience would be truly laughable. Hospitality loans are risky and very difficult to obtain, even for a property with good profitable P&Ls and history.
While you obviously must have the right property and have done your due diligence on it, along with spending untold hours preparing a business plan, the truth of the matter is most people don’t have the contacts to even get a foot in the door for the possibility of a loan. Rick Newman does. He proved with our very difficult loan that if he chooses to work with you, and he only selects those he believes in, he will do everything he possibly can to secure financing. And, he’ll do it with integrity and honest truth throughout the process.”
Thank you, Rick!”
Mark and Debbie Santy, Innkeepers
Sheridan House Inn
Grand Canyon, Arizona
“Rick was such a pleasure to work with. He was helpful in guiding us through the ups and downs of financing our inn. He was a huge part in making our dream come true and we cannot express how grateful we are to have connected with him. He is truly an expert in the field but the best part was that we made a lifelong friend in the process. Thank you, Rick, for everything!!!”
Steve and Karen Wilson, Innkeepers & Proprietors
The Lion and the Rose
Asheville, NC
“We spent the better part of 15 years dreaming of owning a Bed & Breakfast. We toured numerous Inns, attended The B&B Team’s Aspiring Innkeeper Seminar, and conversed with many Innkeepers to educate ourselves about the Innkeeping Business. We put in a great deal of effort to develop a knowledge of the business, however, the process seemed arduous and we felt completely overwhelmed with all that needed to be accomplished if we were to finally buy the inn we have dreamed about for so long. We were honestly beginning to wonder if our aspirations of innkeeping were realistic given what seemed to us to be a mountain before us.”
“We remembered hearing about Rick Newman and looked up his website InnFinancing.com. I decided one morning to reach out to take advantage of his experience with the industry. Rick and I hit it off on the phone instantly and I knew right away how genuine and sincere he was about wanting to help us. From start to finish this individual is a class act. He stayed in constant contact with us, introduced us to colleagues in every area of the transaction and helped us secure and close on our wonderful inn in under 45 days, which I believe is a record in Asheville.”
“We would encourage any Aspiring Innkeeper to reach out to Rick early in your journey. His attention to detail is out of this world and he knows this business inside and out. We have heard from other Innkeepers in our area that they went through lender after lender, and that B&B sales can take up to 8 months to close and they still may fall apart for any number of reasons.”
“We had spoken to Rick almost every morning and felt like we were more than just his clients, we had become friends. We were so pleased when he decided to drive down to Asheville from his Pennsylvania home to be with our family on our special day.”
“We are now the proud new owners of North Lodge on Oakland B&B in Asheville, NC. Many thanks to Mr. Rick Newman.”
David & Kevin, Innkeepers & Proprietors
North Lodge on Oakland Bed & Breakfast
Asheville NC
“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, Innkeepers
Tall Pines Inn
Eureka Springs, Arkansas
About Commercial Capital Network
Commercial Financing & Acquisition/Funding Strategies for Bed & Breakfasts, Country & Historic Inns, Resorts & Venues
Commercial Capital Network
InnFinancing.com and Commercial Capital Network are owned by Richard K. Newman, a nationwide inn consultant, specializing in Commercial Financing & Acquisition/Funding Strategies for Bed & Breakfasts, Country & Historic Inns, Resorts & Venues. Rick consults with business owners who wish to restructure debt obligations, but dedicates the majority of his energy helping the next generation of business entrepreneurs and aspiring innkeepers navigate the challenging process to identify and purchase “The Business of Their Dreams.” Rick helps his clients by providing the following services:
- Initial B&B Loan Prequalification, to determine a price range and purchase strategy relative to the financial qualifications and objectives of his client;
- Property evaluations to identify qualified inns before investing time, capital and energy visiting non-qualified properties;
- Introductions to industry specialists and consultants;
- Business plan development for use in loan approval;
- Package documents, proofs, and application in preparation for submission to qualified investors/lenders;
- Establish a strategy to secure a suitable loan solution relative to his client’s financial qualifications and goals;
- Consult with qualified lenders/investors and negotiates rates, terms, and programs; and,
- Assist client and coordinate with lender, title insurer and other professionals during preparation for closing.
All Trademarks and Copyrights are the property of Richard K. Newman, reproduction or use of any material is strictly prohibited.
Prequalify to Buy a Bed & Breakfast or Inn
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. …
Financing Frequently Asked Questions
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 …
Use Retirement Assets for Inn Purchase
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… …
WHAT CLIENTS SAY . . .
"Rick stuck with me through a difficult financing process, and got me the money I needed when other lenders were unable or unwilling to do so. With a somewhat overpriced property, and a tightening credit market, Rick worked with me on an almost daily basis to make the purchase happen. I doubt that …
"Rick made the loan process seamless. He explained everything clearly and answered all of our questions without delay. He was a pleasure to work with." John & Michelle Gamble Palms Cliff House Hilo, Hawaii …
"I can’t thank you enough for all your support, patience, honesty, advice, collaboration, and friendship during the process of buying the Journey Inn Bed & Breakfast. Not only did you help secure an amazing loan for us …
Congratulations to Bud and Kim Wagner on the purchase of The Fox and the Grapes Bed & Breakfast. The Fox and the Grapes Bed & Breakfast 9496 NY-414 Lodi, NY 14860 Phone: (607) 582-7528 www.TheFoxandtheGrapes.com …
BED & BREAKFAST INN ASSOCIATIONS
