Inn Financing

“For more than 25 years, my grandmother (Rick Newman’s Mother) owned the New Hope Lodge in New Hope, PA.”

“I spent much of my childhood after school with her at the inn watching her work never imagining that one day I would want to own an inn myself. I know my Grandmother would be so pleased to know I used my portion of the proceeds she left to her grandchildren to purchase an inn, and that her life’s work as an innkeeper made this all possible.”

“When my husband and I first considered owning a B&B, we weren’t entirely sure of the process and timeline. We thought it would take us years. Luckily, my uncle Rick was there to guide us, in fact, he recommended we consider the Cornerstone B&B adjacent to the University of Pennsylvania and Drexel University in Philadelphia. He had assisted the previous owners buy the inn eleven years prior, and when it went on the market in 2018, he told us it was a wonderful performing property, and a smart investment in an interesting and active location.”

“From start to finish, he was with us every step of the way. He brought together a team of talented B&B experts to work with us including industry vendors, a website designer, a videographer/photographer, and even our inn consultant Eliot Dalton of The B&B Team. With his guidance and user-friendly business plan templates, he gave us confidence and helped shape our purchase and financing of the inn.”

“We began the process in mid-February and settled on April 29th, 2019. Thanks to Uncle Rick, it only took about six weeks for everything to come together from start to finish, an extraordinary feat! We are now the proud owners of the Cornerstone B&B in Philadelphia! It was a family effort, and we honestly couldn’t have realized our dream without him. I know my grandmother would be so happy to know that her family worked together as a team to continue her legacy.”

“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.”