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CRDC Offers Refinancing Assistance to Timber Post Bed & Breakfast
"To own this B & B is a dream," said Timber Post Bed and Breakfast Owner, Vivian Girard. "To some it may seem like a lot of work, but I love it, and to me its not
"To own this B & B is a dream," said Timber Post Bed and Breakfast Owner, Vivian Girard. "To some it may seem like a lot of work, but I love it, and to me its not work." 
 
Vivian Girard is the sole owner of Timber Post Bed and Breakfast, a 3,302 s/f B & B located in Hollis, New Hampshire. Boasting a beautiful landscape even in the winter, the 2.3 acres of property is popular for brides and their wedding parties. "Our guests who are looking for a wedding venue as well as a place to stay have the option of renting the outdoor space to host their wedding or large party." 
 
Built in 1774, the property over time naturally needed renovations. Vivian purchased the property in 2014 with the plan to convert the colonial home into a bed & breakfast.
 
Through sweat equity and a sizable initial personal investment, Vivian was able to update the living area, guest bedrooms, bathrooms, and outdoor patio. However, one major upgrade was still needed and that was the installation of a new sprinkler system to bring the property up to fire code. 
 
"I sought the assistance of CRDC to help refinance the property. CRDC was able to provide the gap financing I needed through a Direct Loan. Everything was easy, and very seamless between CRDC and Bank of New Hampshire, who also assisted me with refinancing," added Vivian.  
 
"We started working with Vivian prior to the refinance, offering technical assistance," said Jennifer Boulanger, CRDC Loan Officer. "Because the property was purchased as personal real estate and not a business initially, we had to convert the refinancing into business loan. With the addition of the new sprinkler system, Vivian was able to increase her guest limit from three to 16, allowing for a much larger stream of revenue. We were pleased to offer the gap financing needed and provide Vivian with technical assistance throughout the process as well." 
 
Timber Post Bed & Breakfast can host up to 16 guests and is the only B & B located in Southern New Hampshire. For more information, click here: Timber Post Bed and Breakfast.
 
Caption: Jennifer Boulanger, CRDC Loan Officer and Vivian Girard, Timber Post Bed and Breakfast Owner stand in front of the 1774 Colonial B &B located in Hollis, NH.



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