Devonfield B&B, Lee, MA

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