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B&B / INN Financing Needed

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Mon, 2010/03/29 - 16:27 by James

We have identified and recently secured a sales agreement on a five suite Bed & Breakfast / Inn located in a thriving tourist area.

The property is a Georgian colonial listed on the National Historic Register in a historic and tourist friendly location in Arkansas. Currently, there is not enough lodging available for the amount of people flocking to visit, shop and dine, etc. in this location.

The purchase price of the property is 378k and we would like to arrange for an additional 80k to update, furnish and complete minor repairs. The value of the property alone is in excess of 500k and with furnishings and thriving business the value would be upwards of one million dollars. As we don't have a huge down payment we would use the property etc as collateral. We will purchase the property and live there as our primary residence so our goal is to locate an investor to provide the capital and in return receive monthly payments with interest. Full payback within 2 years. However, other financing scenarios may be acceptable. A thorough Business Plan available for your review.

Please let us know if you may be able to assist us in securing financing.

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