Commercial Capital Network, LLC/InnFinancing.com (CCN), owned by Richard K. Newman, recently provided loan acquisition and property transition services for The Hoyt House Bed & Breakfast, an Amelia, FL, based inn owned by Ricky and Tracey Escalante. 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 Hoyt House to the Escalantes.
“My husband Ricky and I decided to leave the corporate world and fulfill our dream of owning and operating our very own Bed and Breakfast. The search for the perfect B&B was on and we thought it best to understand the purchasing process from a financial perspective and what price point we could qualify for relative to the capital we had available for investment. We searched the web for someone who could offer industry specific professional financial input and were fortunate to find and engage Richard Newman. Rick is the consummate professional who was extremely informative, reliable and pushed us in a positive way to reach higher than we may have otherwise,” expresses Tracey Escalante.
Escalante continues, “Rick worked diligently with us as we considered a number of properties often interacting with brokers and sellers to advance our cause. I don’t believe we would have accomplished this acquisition without his committed assistance, reassurance and support. We started the process looking for a financial professional to work with us, and ended up with a true and caring friend.”
Explains Richard K. Newman, “Loan acquisitions are a process which need to be delicately managed within the bed & breakfast and inn financing field. 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.
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 www.innfinancing.com for further information on Inn Financing and to learn more about the company’s most recent inn and bed & breakfast acquisition projects.
For more information on The Hoyt House Bed & Breakfast, or to make a reservation, visit www.hoythouse.com.