A Dream Realized in Newberg, Oregon
Nicole Wolfer, co-owner of The Old Schoolhouse, an event estate in Newberg, Oregon, fulfilled her lifelong ambition of owning a wedding and event venue thanks to TMC Financing and the SBA 504 loan program. Alongside her husband, James, and her parents, Randy and Beth Bailey, Nicole has transformed the historic 1928 schoolhouse and surrounding gardens into a sought-after destination for weddings and events in Oregon’s Willamette Valley.
From Industry Veteran to Owner
With over a decade of experience in event planning, Nicole had long envisioned creating a venue that offered superior service and quality. The Old Schoolhouse checked every box: a fully renovated property with seating for 130, picturesque orchards and gardens, and stunning vineyard and mountain views — a turnkey property ready to become the dream venue she always imagined.
Financing Made Possible with TMC Financing
Securing the ideal property required the right financial partner. Nicole initially found traditional bank financing out of reach due to high down payment requirements. However, TMC Financing, in partnership with KeyBank, provided a solution through the SBA 504 loan program, which requires only 10-15% down and offers favorable 25-year terms for real estate purchases.
TMC Business Development Officer Anna O’Brien guided Nicole through the process, helping secure financing for the $1.4 million property with just a 15% down payment. Despite the paperwork and complexities typical of SBA 504 loans, Nicole praised TMC’s support and coordination in overcoming challenges alongside the bank.
Building Toward a Bright Future
The Old Schoolhouse officially closed on the property in January 2025 and hosted its first event shortly after. The team is now focused on growing bookings, with weddings as their primary business. Nicole credits TMC with making her vision a reality, noting the importance of partnering with experts who understand the unique needs of small business owners.
Encouragement for Future Entrepreneurs
Nicole’s advice to other small business owners: start with TMC Financing. She encourages entrepreneurs to explore the SBA 504 program early, highlighting how TMC’s expertise and dedication can turn business dreams into reality.