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Terra Nova House Bed & Breakfast

Terra Nova House B&B 1
Location
322 West Poplar Street
Grove City, PA
County
Mercer
Description
Business Acquisition
Total Project Cost
$323,000
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As soon as I called The Progress Fund, their loan officer said, ‘Yeah, you called the right people.’ Our feelings were, ‘Now we’ve got The Progress Fund.’ It just gave us peace of mind, really.

- Ryan Mercer, co-owner, Terra Nova House Bed & Breakfast

People

“You know what?” Ryan Mercer told his wife, Molly, after their first visit to a bed & breakfast. “This is what I want to do when I retire.” A dozen years later, information technologist Ryan was just half way to retirement age, but the dream beckoned in the form of the Terra Nova House, an award-winning, century-old bed & breakfast that was up for sale. Ryan’s reaction: “Wow! We immediately fell in love.”

Progress

Banks showed no love when the Mercers sought financing to buy the Terra Nova House. “I called every single bank,” says Ryan. “They said, ‘Nope, we don’t do it.’” A consultant recommended The Progress Fund, which referred the Mercers to the Gannon University Small Business Development Center. Soon they had a business plan and a $238,700 loan from The Progress Fund.

Impact

In a town with three colleges and outlet shops, the Mercers broadened the Terra Nova House’s marketing to target young couples, academic visitors and Grove City natives returning for family events. They added fruit-and-chocolate plates, pastries and around-the-clock hot beverages, plus savory, sweet, health-conscious and to-go breakfast options. Now they share with others the profound relaxation they felt the first time they stayed in a B&B. “We’ve had guests now for whom it has been the first B&B they’ve been to, and they’re just blown away,” says Ryan. “That’s what I love.”

The Progress Fund is an equal opportunity provider and employer.

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News about Terra Nova House Bed & Breakfast

Owners of Terra Nova House B&B to Receive Tourism Award

Ryan and Molly Mercer will be honored by VisitMercerCountyPA, the tourism promotion agency, at its annual dinner June 25 at Grove City Country Club. The Mercers are recipients of the James E. Winner Jr. Tourism Initiative Award. Continue reading Read the full post »