The Sand Dunes

We had a great experience working with Charles. He was super thorough and knew the process inside and out. I have recommended him to several people since our last SBA loan. If we needed anything, he was there. Alicia McKinsey was top-notch as well. The process went very smoothly; better than any other SBA experience I’ve had. I was impressed with how quickly it went, which speaks to Charles.

Client Profile

The Sand Dunes is a boutique-style hotel located in the popular beach town of Kure Beach. Just south of Wilmington, North Carolina, Kure Beach offers beautiful beaches and attractions for the whole family. Sand Dunes is conveniently located with direct access to the beach, offering contactless entry and newly upgraded rooms with a sleek, vintage style. 

Loan Profile

For business owner Erik Hemingway and his business partner, David Acosta, Sand Dunes is not their first successful vacation property rental. With a combined real estate experience of 30+ years, Erik and David were well-poised to start a successful rental company, with experience in all aspects of construction general contracting, self-storage, and more. Erik and David first connected with Business Lending Specialist, Charles Evans on their first project, The Beach House, and then again worked with Charles on their next project, Cary Lighthouse, which entailed an extensive renovation and refinance. Erik and David were attracted to the SBA Program due to its unique benefits, such as lower down payment requirements and higher loan-to-value ratio. Having sought an SBA loan previously, they understood the safety nets provided by the SBA, such as interest reserve and working capital, designed to help their business be successful. Through the SBA Program, the business partners were able to finance the acquisition.

For more information on our SBA lending programs, visit our website! Charles Evans and the rest of our experienced team are ready to help you reach your goals.

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