Case Studies

Atlantic House Bed & Breakfast


$650,000 | SBA 7(a) Loan | Ocean City, MD

Our customer support and fair terms showed the owners of Atlantic House we're a company you can trust to deliver.

Atlantic House Bed & Breakfast building

Brian & Josephine McCarthy, proprietors of the Atlantic House Bed & Breakfast, purchased the property three years ago after successful careers in the food service industry. Undeterred by the highly seasonal nature of the property or taking over operations during difficult economic times, the McCarthys have consistently increased sales year after year. They’ve also experienced a rise in repeat business as a result of adding numerous amenities and providing world-class service—something they are proud to say is now recognized as a hallmark of their inn.

Thinking a large, well-known regional bank would ensure direct and timely access to financial expertise and assistance, the McCarthys initially worked with a large, regional bank to finance the acquisition of their business in 2008. Yet recently, as a rate adjustment loomed on the horizon, their phone calls and inquiries went unanswered. The lack of customer service and support sent the McCarthys looking for alternatives to meet their financing needs.

In search of a predictable financing solution, with fair terms, and a company they could trust to deliver, the McCarthys found CapitalSource’s Small Business Lending Group who recognized this as the opportunity it was—an opportunity to provide secure financing to savvy small business owners and borrowers. CapitalSource was able to provide the McCarthys with a fully amortizing long-term solution through an SBA 7(a) loan while simultaneously lowering their monthly debt service by 17%. Ultimately, this reduction will allow their business to build a larger reserve for future capital improvements as well as ease any cash flow issues in the off-season.

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