The White Sails Inn is what many would describe as the “quintessential Maine inn”. Located in Kennebunk, the bed and breakfast was previously known as the Elizabeth Rose House. Susanne Lillis purchased the inn in May of 2023. Susanne, who was born and raised in Sonderborg, Denmark, lived in Rangeley, Maine for 19 years.  Having spent 25 years in the hospitality industry, she decided to fulfill her lifelong dream of owning her own establishment and purchased this picturesque inn. She was working with Franklin Savings Bank to secure funding for the purchase, and as things seemed to become complicated, was…

It was Stacey Cote’s dream to own and operate a hospitality business in Southern Maine. When she found the property New Harbor Cottages for sale in Wells, she knew it was what she was looking for. She came to a Purchase Agreement with the owner, had some working capital, but needed financial help to purchase the property. Because the property needed some improvements, she was a new hospitality business, and Maine was just coming out of the pandemic, banks were very cautious. After being denied a loan from other banks, her Realtor connected her to SMFA. SMFA in turn brought…