November 16, 2016

A STORY IN EVERY LOAN

The story below was published in our 3rd Quarter 2016 Newsletter.

Loans That Help Heal

Every loan tells a story: A commercial venture that brings an interesting historic property back to life; new homes to make homeownership dreams come true; a development that opens doors, provides jobs, but also preserves a natural habitat; shops, eateries, and retail enhancements that provide us with exciting choices and options. Among recent approved loans, one touched our hearts and inspired our patriotism.

Travel down a two-lane road west of Cambridge on Maryland’s Eastern Shore and eventually you’ll see the Blackwater National Wildlife Refuge on your left. On the right, tucked behind some trees, is a 290-acre property with 2.3 miles of waterfront along Parsons Creek and Slaughters Creek. It was once owned by 1920s silent screen star Clara Bow, and later by Jim Bugg, founder of the Yellow Ribbon Fund.

Over the years, Mr. Bugg graciously enjoyed sharing his beautiful part of the Bay with wounded military veterans and their families as a retreat and “thank you” for serving our country. After Mr. Bugg passed away, the property was for sale. Stuart Plank, who had been to the property, approached DC Bowl Committee President & Executive Director Steve Beck with the idea that the DC Bowl Committee should purchase the property and create a formal retreat for the nation’s wounded service members – a place where these brave men and women could hunt, fish, crab and relax. Plank and the Taishoff Family Foundation were on board as Founding Partners.

Among the group of investors, were friends of EagleBank, who knew EagleBank’s spirit of patriotism would prevail in funding a loan for this veteran retreat. The loan would help restore, improve and expand the existing 6-bedroom/5-bath guest house; the 4-bedroom/3-bath main house; the caretaker’s house, plus a barn and other outbuildings. It was approved, of course. The project, now named Patriot Point, is a continuous work in progress that has brought others in to help…the State of Maryland with capital funding for improvements that included handicapped accessibility, and the USO of Metropolitan Washington-Baltimore, along with other veteran service organizations, to help identify the deserving military men and women, their families and caregivers. Here, they can enjoy recreation, relaxation and a refreshing re-acquaintance with nature.

U.S. Army (ret.) SFC Jason Burr of the Yellow Ribbon Fund, Inc., has been visiting here for 11 years: “It is a place where service members are able to talk without being judged; learn and adapt to their injuries; and move on with their lives. Patriot Point has so much to offer. I have never heard any of the soldiers complain about anything – only about leaving Patriot Point.”

EagleBank salutes this worthy project and sincerely thanks all who serve our country.

To read the full Newsletter, click here.