Lehigh Financial group of Allentown has announced it has arranged financing for a Catasauqua couple to purchase the historic New Tripoli Hotel.

Jackie and Carl Harford, owners of Fossil’s Last Stand, Race Street, Catasauqua, purchased the Lynn Township landmark on Aug. 22 after managing it for several months for the previous owners.

A grand re-opening, scheduled for Oct. 1, will include live music 5 p.m. and 9 p.m., Jackie Harford said.

The purchase not only restores the liquor license for the establishment, it allows the Harfords to move ahead with some much-needed physical improvements to the building, which includes the restaurant-bar, five boarding rooms and two apartments.

“The first thing we are doing is putting a new hat on the old gal,” said Harford, explaining work on the new roof begins this week. “It’s a beautiful building.

“We have enough working capital now that we can get the building back up to what it should be, but it will take a few years.”

The Harfords obtained a commercial loan guaranteed by the Small Business Administration to finalize the purchase and make the needed improvements and upgrades, said Jeff Barber of Lehigh Financial Group.

Their success with Fossil’s was a key factor in obtaining approval for the financing because it demonstrated they are experienced owners in the hospitality industry, he said.

Harford said she is excited to move ahead with the business and thankful for her staff of bartenders and servers who stayed with them for several months before they restored the liquor license.

Entertainment for the grand re-opening includes the Garage Band, which is scheduled to play 5 to 7 p.m., and Trick Stacy, a popular regular act at Fossil’s, is scheduled to start playing at 9 p.m., she said.

She also praised Barber and his team, which includes Lewis Edwards, for their patience and work throughout the financing process.

“Jeff was amazing,” she said.